The amount of loans extended by South Korean banks to households nearly doubled in August from a month earlier, data showed Thursday, stoking concerns that the country's already-high household debt may further rise.
Outstanding household loans by local lenders stood at 497 trillion won (US$480 billion) as of end-August, growing by 5 trillion won from the previous month, according to the preliminary data by the Bank of Korea. The on-month gain is nearly double the 3.1 trillion won increase in July.