South Korea Sees Significant Drop in Household Loans, Easing Debt Worries for the BOK

Recent data from the Bank of Korea (BOK) reveals a promising decline in household loans, a development that is likely to alleviate concerns surrounding mounting household debt in the nation. As of January 2025, total household loans in South Korea saw a decrease of 3.5 trillion won ($2.7 billion), reaching a total of approximately 1,894 trillion won. This marks the first contraction in household lending figures since August 2021, reflecting substantial shifts in consumer behavior and market conditions.

Continue reading