Household Loans at South Korea’s Five Largest Banks Rise by 41 Trillion Won in 18 Months

Household lending is rising across both South Korea’s banks and insurers. The combined household-loan balance at the country’s five largest banks increased by 41 trillion won over the past year and a half.

Data submitted by the Financial Supervisory Service to Park Seong-hoon, a People Power Party lawmaker on the National Assembly’s Political Affairs Committee, showed the balance climbing from 734.1 trillion won at the end of 2024 to 767.6 trillion won at the end of last year and 775 trillion won at the end of June.

NH NongHyup Bank posted the largest increase, with its household-loan balance rising by 11 trillion won, from 137.6 trillion won to 148.6 trillion won. Shinhan Bank’s balance grew by 7.8 trillion won to 147.2 trillion won. KB Kookmin and Woori each recorded increases of 7.6 trillion won, while Hana rose by 7 trillion won.

The increase has continued into this year among domestic banks. Household lending in the insurance sector has also grown for three straight months.