South Korean Banks' Delinquency Ratio Rises For Second Month In May

According to Yonhap, the delinquency ratio on South Korean banks' won-denominated loans rose for a second straight month in May as newly overdue loans increased. The ratio stood at 0.67% at end-May, up 0.06 percentage point from a month earlier, according to data from South Korea's Financial Supervisory Service (FSS). The amount of newly overdue loans reached 3.3 trillion won ($2.23 billion) in May, up 400 billion won from April, while write-offs totaled 1.5 trillion won, down 100 billion won over the same period. The delinquency ratio for corporate loans climbed to 0.84%, up 0.1 percentage point, and the ratio for household loans rose 0.03 percentage point to 0.45%.