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Economic Report

Economic reports, briefs issued by Samsung Economic Research Institute

Weekly Briefs (Oct. 7 - 11)

Weekly Briefs (Oct. 7 - 11)

Oct. 14, 2013

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Monday, October 7
The outstanding amount of Korea's household loans marked a sixth-month increase and broke the record for four straight months. According to the Bank of Korea (BOK), household lending by depository institutions rose 3.3 trillion won from the previous month to reach 670.8 trillion won at the end of August, recording a new high. Housing loans expanded 1.2 trillion won, higher than a 200 billion increase posted a month earlier. The BOK said other loans also increased by a large margin as people went on summer vacations during August. Indeed, the increase in other loans expanded from 900 billion won in July to 2.1 trillion won in August. By institution, household loans extended by commercial banks gained 1.8 trillion won to 472.6trillion won at end-August while those by non-banking financial institutions stood at 198.2 trillion won, up 1.4 trillion won from the previous month.

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