Household debt in Korea grew again in the second quarter after falling slightly in the first, the Bank of Korea said Thursday.
As of the end of June, household debt totaled W922 trillion (US$1=W1,132), up W10.85 trillion from the end of March. The BOK's figures include loans taken out from banks and purchases made on credit.
According to the BOK, bank loans during the second quarter rose W10.9 trillion to W868.4 trillion, accounting for the majority of household debt.
In contrast, credit purchases dropped W50 billion to W53.5 trillion, continuing their decline from the first quarter when they fell W1.2 trillion, amid prolonged sluggish consumption.