Household credit, which includes debts owed by households to banks, insurers and other lenders as well as purchase on credit, reached 1,869.4 trillion won (1.4 trillion U.S. dollars) at the end of June, up 6.4 trillion won from three months earlier, according to the Bank of Korea.
It was the highest since relevant data began to be compiled in 2003.
Excluding the purchase on credit, the household debts increased 1.6 trillion won from three months earlier to 1,757.9 trillion won at the end of June.
It rebounded after reducing by 800 billion won in the January-March quarter.
The rebound was attributed to loan demand for Jeonse, which refers to South Korea's unique contract between two households where a landlord grants a two-year residential right to a tenant who in turn lends a certain amount of money, or deposit, to the landlord.
The purchase on credit gained 4.8 trillion won to 111.4 trillion won during the April-June quarter.
The fast growth came as the government lifted all anti-virus measures, except an indoor mask mandate, in April to bolster consumer demand. (1 U.S. dollar equals 1,342.65 won)
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