Household debt growth slows in January, corporate debt up: BOK
- 5 years ago
The Bank of Korea says the pace of increase in household debt slowed in January,... while corporate debt increased sharply on-month.
After recording a drop of six billion U.S. dollars in December, bank lending to corporations turned to a positive six-point-seven billion in January as firms borrowed more money to pay value added tax and cover their overdue payments from 2018.
Household debt increased by one billion dollars in January, down three-point-eight billion dollars from the month earlier.
On-year, it was down one-point-four billion dollars.
The Bank of Korea attributed the drop to seasonal effects and the government's housing regulation policies that went into effect last year.
After recording a drop of six billion U.S. dollars in December, bank lending to corporations turned to a positive six-point-seven billion in January as firms borrowed more money to pay value added tax and cover their overdue payments from 2018.
Household debt increased by one billion dollars in January, down three-point-eight billion dollars from the month earlier.
On-year, it was down one-point-four billion dollars.
The Bank of Korea attributed the drop to seasonal effects and the government's housing regulation policies that went into effect last year.