Korea household loans climb 1.3% m-m in October

As housing transactions stayed solid.

Household loans in Korea picked up by 1.3% m-m , up 5.7% YTD and up 7.0% y-y, driven by mortgage loans growth of 1.6% m-m, up +8.2% YTD and +9.8% y-y.

According to a research note from Nomura, this developed as housing transactions remained strong.

The report noted that October Seoul apartment transaction volume grew 15% m-m to 10,147 units.

Meanwhile, Nomura also noted that bank funding rose 0.6% m-m (+3.5% YTD, +4.0% y-y). Core deposits rose by 0.8% m-m (+7.2% YTD, +12.2% y-y).

Further, time savings rose by 0.3% m-m (+3.3% YTD, +0.8% y-y).