Bank of Korea Reports Slight Easing in Q2 Corporate Lending Growth

Deep News09-07 11:11

The Bank of Korea released data on Monday revealing a slight deceleration in corporate loan growth for the second quarter, attributed to a cooling in manufacturing sector demand.

According to the central bank's statistics, the outstanding balance of domestic corporate loans reached 2,065.3 trillion Korean won (approximately $1.54 trillion) as of the end of June, marking an increase of 30.6 trillion won from the previous three months.

This second-quarter expansion came in marginally below the 30.8 trillion won rise recorded during the first quarter, indicating a modest narrowing in the pace of growth.

By industry breakdown, loans extended to manufacturing firms increased by 8.4 trillion won during the quarter, lifting the total to 521.5 trillion won. This compares to a 11 trillion won expansion in the first quarter, underscoring the visible slowdown in credit uptake within the sector.

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