[Economy 365]

In the first half of this year, other loans from the five major commercial banks, such as credit loans and revolving credit lines (minus-통장), exceeded their initial management targets by nearly 2.4 trillion won, coming in at more than three times the target.

As other loans surged due to an increase in so-called 'bit-to' (investing with borrowed money), banks began managing household loans by reducing mortgage loans, which are relatively easier to control.

In fact, Kookmin Bank reduced its mortgage loan limit from 600 million won to 300 million won, while other banks also raised borrowing barriers by temporarily suspending loan broker channels and restricting mortgage insurance subscriptions.

On the other hand, NongHyup Bank saw its mortgage loans exceed targets by a large margin, making it the only one among the five major banks to have already surpassed its annual household loan target.

As the banking sector tightened loans, housing-related loan demand shifted to non-banking sectors such as credit cooperatives and savings banks. Housing-related loans in the non-banking sector increased by 10.5 trillion won this year, recording 1.8 times the increase seen in commercial banks.

* This article was produced with AI audio.