(MENAFN) In July, household credit growth grew on fast pace in S. Korea, although lending rules are getting more tight at reining in household debt.
According to the Financial Services Commission (FSC) in the country, household debt grew by 9.5 trillion won (US$8.3 billion) in July, compared to growth of 7.6 trillion won in June.
While household loans by banks are increasing by 6.7tr won in July, it marks the fastest monthly growth in eight months.
Moreover, new measures included the government proposed imposing a higher capital gains tax rate on people who own two or more homes from April next year.
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