Moody's, an international credit rating agency, started credit rating negotiations on the 21st, with the balance of foreign transactions reaching 106.3 trillion won last year, the largest increase ever in household debt of 1862 trillion won.
The Bank of Korea's bank credit statistics, which is the balance of accounts receivable, showed a 5.7% (5.7 trillion won) increase from the previous quarter in the fourth quarter of last year, and the largest increase in history by 10.8% (10.4 trillion won) compared to the same period of the previous year.
The balance of household credit, including household loans and sales credit, stood at 1862.1 trillion won, accounting for 91.2% of nominal gross domestic product (GDP) at the end of the third quarter of last year.
The increase in household debt increased by 134.1 trillion won (7.8%) last year, which is larger than the previous year (127.3 trillion won), the second largest increase in history since 2002.
Last year, the increase in loans was concentrated in the first half and was linked to housing prices and stock increases, and in the second half of the year, mortgage loans increased by 3.1 trillion won to 104.9 trillion won by moving to non-banks according to the government's loan regulation policy.
Among household loans, 2.4 trillion won in mortgage loans increased by 13.4 trillion won (1.4%) in the fourth quarter of last year, and 20.8 trillion won in the third quarter (20.8 trillion won) in the same period last year. 800 billion), the increase was larger.
Mortgage loans amounted to 982.4 trillion won, an increase of 13.4 trillion won last year, and the balance of sales credit (card usage before payment) increased by 5.7 trillion won from the previous quarter to 106.3 trillion won, a record high.
The Bank of Korea’s household credit balance last year was 1862.1 trillion won, 1844.9 trillion won in the third quarter, 1808.2 trillion won in the second quarter, 1764.1 trillion won in the first quarter, 1727.9 trillion won in the fourth quarter of 2020, 1681.8 trillion won in the third quarter, 2 It is an increase of 1637.3 trillion won in the quarter.
Moody's, a credit rating agency, will begin the annual consultation on the national credit rating evaluation on the 21st, when the 17 trillion supplementary budget is confirmed, and proceed until the 28th. Moody's maintained the previous 'Aa2 (stable)' for Korea's sovereign credit rating outlook last year and said, "The national debt is at a historically high level. It can test Korea's long-standing history of fiscal discipline." Fitch, a credit rating agency, announced that it would maintain Korea's national credit rating of 'AA-' in January. looks like "This could act as a credit rating pressure factor in the medium term in a situation where there is a long-term spending requirement due to an aging population," he said.
Standard & Poor's (S&P), a credit rating agency, said in November last year, "We are paying close attention to the household debt and real estate market in the short term, and the social disparity in the mid- to long-term and financial capacity against the cost of aging and unification."