Corporate lending in South Korea rise in Q3

Depository corporations increased industrial lending by approximately US$24.41b

Loans extended by depository banks in South Korea grew by over US$22.95b (KRW30.4t) in the third quarter of 2023, according to data from the Bank of Korea (BOK).

Loans extended by non-bank depository institutions also rose during the quarter, by US$1.43b (KRW1.9t).

At the same time, the depository corporations in South Korea increased their industrial lending by KRW32.3t (US$24.41b) in the third quarter of 2023.

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Notably, lending to the manufacturing sector rose by US$7.78b (KRW10.3t) in Q3, compared to the previous quarter.

Lending to the service sector also grew by US$12.76b (KRW16.9t) in Q3 compared to the preceding quarter.

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Lending for working capital rose by almost US$11.03t (KRW14.6t), and loans for facilities investment expanded by US$13.37b KRW17.7t.