House­hold debt growth slows

The Korea Times - - FINANCE -

House­hold debt growth in South Korea slowed from a month ear­lier last month, cen­tral bank data showed Fri­day.

This came amid gov­ern­ment ef­forts to curb real es­tate spec­u­la­tion that in­cluded tougher reg­u­la­tions on fresh loans.

Fresh loans ex­tended by banks to lo­cal house­hold came to 4.8 tril­lion won ($4.03 bil­lion) in the month.

This is a slower gain from a 7.4 tril­lion-won gain the month be­fore, ac­cord­ing to the data from the Bank of Korea (BOK).

The read­ing also marks a slow­down from a 5.1 tril­lion-won in­crease in the same month last year.

The value of home-backed loans gained 4 tril­lion won last month, com­pared with 4.6 tril­lion won in Au­gust.

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