Household loans rise sharply in July on fast-growing mortgage, credit loans

Household loans by major banks rose sharply in July despite tight borrowing regulations, as mortgage and credit loans picked up, financial data showed Sunday. Outstanding household loans at five major lenders -- KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank and NH Nonghyup Bank -- stood at 778.8 trillion won ($538.6 billion) as of Thursday, up 3.8 trillion won from the previous month, according to data compiled by the banks. The rise in household loans by banks was mainly attributed to a