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S.Korea May household borrowing jumps at fastest pace in six months
June 14, 2017 / 3:02 AM / 4 months ago

S.Korea May household borrowing jumps at fastest pace in six months

SEOUL, June 14 (Reuters) - Bank lending to South Korean households rose 6.3 trillion won ($5.60 billion) in May, central bank data showed on Wednesday, the fastest rise in six months.

The Bank of Korea said the robust growth was mainly due to persistent demand for mortgages, which saw a net 3.8 trillion won increase in May.

Total household borrowing at banks stood at 724.8 trillion won as of May this year.

In April, households borrowed a net 4.7 trillion won from banks, of which mortgages made up 3.3 trillion won.

$1 = 1,125 won Reporting by Cynthia Kim; Editing by Eric Meijer

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