South Korean banks’ bad loan rate improves in March

Delinquency rate of loans to large companies, SMEs, and households fell.

The delinquency rate of South Korean banks’ won-denominated (WD) loans stood at 0.43% in end-March, 0.08 percentage points (pp) lower from am omtn ago, according to data from the Financial Supervisory Service (FSS).

However, this is still 0.1% higher compared to March 2023.

The volume of resolved loans expanded to KRW2.8t in March, whilst newly delinquent loans grew KRW0.5t.

ALSO READ: South Korea warns against loan scams using voice phishing

Delinquency rate of loans to large companies fell to 0.11% in March, from 0.18% in February.

Delinquency rate of loans to small and medium enterprises (SMEs) also fell to 0.58%, from 0.7% in February.

The rate to household loans, meanwhile, fell to 0.37% in March from 0.42% in February.

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