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Household loans increased again in the
third quarter. In particular, mortgage loans increased by more than 3 trillion won, leading the loan growth, with loan balances exceeding 17,1 trillion won, the highest level ever.

This is Ahn Sang-woo.

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In the third quarter,
household loan balances stood at 759.3 trillion won.

Compared to the previous two quarters, it increased by 1.759 trillion won, with the balance of housing mortgage loans, including Jeonse's loans, increasing by 1.2 trillion won, while the balance of other loans, including general credit loans, decreased by 11.7 trillion won.

Household loan balances declined for three consecutive quarters from the third quarter of last year due to the real estate recession, but they returned to an upward trend from the second quarter and reached a record high in the third quarter due to the recovery of the real estate economy.

Household credit balances, which include household loans plus sales credit, including installments from credit card companies, also reached a record high of 17.3 trillion won.

As household credit returns to growth in the wake of the increase in mortgage lending, the ratio of household credit to GDP is also expected to rise further.

Earlier, in the second quarter, the household credit balance swelled to 5.5% of our GDP.

However, due to the strengthening of the authorities' supervision of household loans and the recovery of semiconductor exports, the Korean economic situation is expected to improve further in the second half of the year, and the household credit to GDP ratio may improve slightly.

(Video editing: Park Jin-hoon)