Shrinking household loans
![A bank branch in Seoul on Monday. According to the bank industry, the total balance on household loans by the five leading banks in Korea — KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup — in July shrunk 0.27 percent compared to a year ago to 697.7 trillion won. The balance on household loans has been shrinking as interest rate hikes to combat inflation have increased burden. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2022/08/01/bb4dae6d-5914-4fbd-9fd0-205945797b52.jpg)
A bank branch in Seoul on Monday. According to the bank industry, the total balance on household loans by the five leading banks in Korea — KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup — in July shrunk 0.27 percent compared to a year ago to 697.7 trillion won. The balance on household loans has been shrinking as interest rate hikes to combat inflation have increased burden. [YONHAP]
with the Korea JoongAng Daily
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