Data released by the Bank of Korea showed that corporate loan growth in South Korea increased in the second quarter compared to the first quarter. The total amount of loans extended to local companies was 1,842.8 trillion won (US$1.379 trillion) as of the end of June, with an increase of 24.3 trillion won from the preceding three months. This is a greater increase than the 20.8 trillion won rise in the first quarter.
Loans to manufacturing firms rose 5.6 trillion won from the previous quarter to 447.3 trillion won as of the end of June, which is a slower increase than the 11 trillion won gain in the preceding quarter. The service sector saw a 13.4 trillion won rise in loans, compared to 8.4 trillion won in the first quarter.
sam@yna.co.kr
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