South Korea's household loans extended by financial institutions are expected to surpass the 1,000-trillion won (US$942.6 billion) mark this year, data showed Sunday, escalating concerns over the number of indebted households seeing meager income growth compared to rises in prices, especially rents.
Outstanding household loans by financial institutions including commercial lenders, insurers and financial agencies stood at 982.5 trillion won as of the end of the second quarter, according to the data from the Bank of Korea. As of end-August, household loans reached 993 trillion won.