SEOUL: South Korea’s household credit hit a record high in the third quarter on robust demand for mortgage loans, central bank data showed on Tuesday, reported Xinhua.Household credit, which refers to debts owed by households to banks and other lenders in addition to the purchase on credit, came to 1,875.6 trillion won (US$1.45 trillion) at the end of September, up 14.3 trillion won (US$11.1 billion) from three months earlier, according to the Bank of Korea (BOK).It topped the previous high of 1,871.1 trillion won (US$1.45 trillion) tallied in the third quarter of last year.The household credit kept growing for the second straight quarter due to the offer of government-backed mortgage loans
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