Reporter Kwon Ae-ri's friendly economic time.
Reporter Kwon, last month's August household loans really exploded.
The largest ever?
Yes, there were several records related to household loans last month.
First of all, household loans in August increased a whopping 11 trillion won in one month from July, the highest record since 2004, when related statistics began to be prepared.
In the last two quarters, until July, household loans had declined from the first quarter.
In the first quarter, the overall aftermath of the corona was large.
By the way, as you can see until around May, household loans are also household loans, but corporate loans are increasing.
I don't know what will happen in the future. Companies' movement to secure money when they could secure it was very urgent.
However, until the recent corona re-proliferation, the corona situation was relatively stable, and from June, when companies' movement to secure cash had ended, corporate loans have now definitely declined. It is showing a stretch.
mortgage loans are quite good, but credit loans seem to be increasing quite rapidly. Why is this?
Among household loans that increased in the past month, the increase in mortgage loans, including whole-house loans, was KRW 6.1 trillion.
And other loans account for the remaining 5,7 trillion won, which also set a record high in terms of an increase in a month.
Other loans are only 400 billion won different from the mortgage loan.
It doesn't usually appear like this.
But what are other loans, 93% of them are credit loans.
That is why individuals recently make a lot of loans with credit.
There are a number of reasons, but for now, interest rates are low.
To be precise, the income is stable and interest rates are low for creditors.
In August, there was even a so-called interest rate reversal, in which the interest rate of credit loans was lower depending on the person than mortgage loans with collateral.
Those with a credit rating of 1st or 2nd class and stable income can receive credit loans at a rate of 2% at a bank in the 1st financial sector, even at an interest rate of 2%.
This is also seen in the era of ultra-low interest rates.
It was unthinkable just a few years ago that you can pay cheaper interest on credit alone, even though you don't have any collateral.
However, interest rates are low now, but credit loans do not cost the same as a mortgage loan.
So, rather, high creditors may be able to pay a better interest rate in some cases.
The recent competition for electronic finance also plays a role.
With things like health insurance data, banks can quickly check credit without seeing the lender.
In this situation, Internet banks and other financial sectors are competing for non-face-to-face service, so there are many people who do not have difficulty in obtaining low-interest credit loans with a few clicks on their mobile phones.
Where have all the loans received so much go?
First of all, the demand for investment is large, and the Bank of Korea believes that it has been used as living funds.
The money and stock deposits collected in securities company accounts to invest in stocks exceeded 63 trillion won.
This is unthinkably the biggest ever.
That's 2.5 times that of the end of last year.
Individual investors have already net bought 54 trillion won worth of stocks this year, and the other money waiting is now.
The same goes for real estate.
Until recently, there have been cases where office workers in their thirties who prepared their homes because they were so-called'young' have made up for mortgage loans that cannot be easily paid with credit loans.
It is analyzed that living funds also increased as described in the Bank of Korea, but the impact on the explosion of loans was not significant.
This is because credit loans require high credit to receive a lot at low interest rates.
Rather, it seems that there weren't many singers.
These days, when office workers gather, "I didn't know what to do, so I took it once".
Mortgage loans are subject to regulations.
So, I don't know when credit loans will be blocked.
So, just like companies that were devoted to securing cash in the second quarter, individuals who can afford to make loans now are driven to short-term credit loans that were relatively less used before.
It's a difficult situation.
I borrowed money easily and lowered the interest rate to spend a lot.
While this also promotes consumption and investment, it's actually hard to prevent debt growth for any reason.
However, the policy goal of borrowing a lot of money to spend even on credit loans is farther away.
However, on the one hand, only high creditors with stable incomes are advantageous, and it is difficult to avoid such complaints.
In a way, it can be said that phenomena are starting to appear that are compelled to appear in a situation where you are trying to simultaneously capture goals in different directions.
Yes, it's a difficult and complicated problem.