Household mortgage loans grow record 10.2% in Korea

Seoul

MORTGAGE loans owed by South Korean households rose 10.2 per cent by the end of December over a year earlier, marking the fastest growth since records began in late 2008, central bank data showed on Thursday.

Mortgage loans at households rose to 460.60 trillion won (S$565.7 billion) by the end of December from 418.12 trillion won a year before and gained 3.5 per cent from 445.16 trillion won three months earlier, the Bank of Korea data showed.