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South Korea Private Lender Loans Rise 5.5 Percent to 13.14 Trillion Won
Outstanding loans from private money lenders reached 13.14 trillion won as of end-December, up 685 billion won from six months earlier, Yonhap reported. Borrower numbers increased while registered lenders declined, according to Financial Supervisory Service data released Sunday.
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Loans extended by private money lenders in South Korea increased in the second half of last year, data released Sunday showed. As of end-December, outstanding loans stood at 13.14 trillion won, or US$8.56 billion, Yonhap reported. The total rose 685 billion won, or 5.5 percent, from 12.5 trillion won six months earlier, according to the Financial Supervisory Service.
The number of borrowers reached approximately 731,000, up 2 percent from about 717,000 over the period. The number of registered private money lenders fell to 7,696 at end-December, down 507 from six months prior.
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