South Korean household borrowing rebounded sharply in October, increasing by $4.8 billion (6.4 trillion won) across the financial sector after contracting by $1.6 billion (2.2 trillion won) in September, according to figures released Wednesday. Mortgage lending rose by almost $3 billion (4 trillion won), while other household loans increased by about $1.8 billion (2.4 trillion won), reversing a $4 billion (5.4 trillion won) decline the previous month. Bank household loan balances reached $900.45 billion (1,203.9 trillion won), surpassing $897.44 billion (1,200 trillion won) for the first time.

The Bank of Koreaattributed the increase partly to previously approved housing