KOSPI Surge Drives Increase in South Korean Personal Credit Loans

According to Odaily, industry data indicates a rise in personal credit loans in South Korea as the KOSPI index continues to reach new highs. As of last Thursday, the total outstanding personal credit loans from the country's top five banks amounted to 106.99 trillion won, approximately $70.98 billion. This marks the highest level since November 2023, when it was 107.72 trillion won. The increase is primarily attributed to overdraft credit lines, locally known as 'negative accounts,' which allow customers to borrow within a pre-approved limit. As of last Thursday, the outstanding balance of these credit tools reached 41.93 trillion won, representing the funds already drawn by borrowers rather than the total available credit.