Seoul Myeongdong Street. Hankyoreh materials
In the service industry centered on self-employed, loans in the fourth quarter of last year increased 18.7% from a year ago, recording the highest growth rate ever. As the domestic demand continues to deteriorate due to Corona 19, it is interpreted that small private businesses are in debt. Looking at the Bank of Korea’s 3rd quarter of 2020 loans for deposit handling institutions by industry, service loans increased by 18.7% from the fourth quarter of the previous year due to the surge in corona19 confirmed cases and increased demand for facility funds. It showed an increase rate. The increase was also the highest in history at 13.8 trillion won. Compared to the previous quarter, it increased by 28.7 trillion won. The increase in self-employment loans also appears in the status of loans by business type. Among deposit bank loans in the fourth quarter of last year, corporate companies increased by only 2.2 trillion won from the previous quarter, but non-corporations, mostly private business owners, increased by 10 trillion won. Han Eun Financial Statistics Team Leader Song Jae-chang explained, “The corona has deteriorated the lodging and food industry, and the increase in wholesale and retail business establishments also contributed to the increase in loans.” Manufacturing loans in the fourth quarter of last year increased by 35.7 trillion won (10%) from the same period last year. Compared to the previous quarter, it turned to a decrease of 2.2 trillion won. The BOK interpreted the effect of the recovery of the manufacturing industry and the impact of temporary repayment for the management of the year-end financial ratio. As of the end of the fourth quarter, total industrial loans rose to 1393 trillion won, an increase of 27 trillion won in three months. Compared to that of a year ago, it increased by 18.89 trillion won, the largest increase in history. By use, the increase in working capital (10.7 trillion won) decreased sharply from the previous quarter, while facility funds increased by 17 trillion won. Senior Reporter Han Kwang-deok [email protected]