South Korean household credit surpasses 2,000 trillion won for the first time, driven by housing and leveraged stock trading loans

⑴ According to data released by the Bank of Korea on the 19th, household credit in the second quarter reached 1,998 trillion KRW (approximately 1.48 trillion USD), an increase of 25.9 trillion KRW from the previous quarter, surpassing the 2,000 trillion KRW mark for the first time on record. ⑵ This quarterly increase is the largest single-quarter growth since the third quarter of 2021, mainly driven by significant rises in housing-related loans and credit loans used for leveraged stock trading. Household credit in South Korea is composed of loans issued by financial institutions and credit card installment payments.