Go to Contents Go to Navigation

S. Korean households' surplus funds stay flat in Q3

All Headlines 12:00 January 09, 2019

SEOUL, Jan. 9 (Yonhap) -- South Korean households' excess funds remained unchanged in the third quarter of 2018 from a year earlier, central bank data showed Wednesday.

Net financial funds -- financial assets minus liabilities -- held by households and nonprofit organizations totaled 11 trillion won (US$9.8 billion) in the July-September period, staying unmoved from a year ago, according to preliminary data from the Bank of Korea (BOK).

Nonprofit institutions here refer to organizations serving households, such as consumer groups, charity and relief organizations, religious groups and labor unions.

S. Korean households' surplus funds stay flat in Q3 - 1

The central bank said an increase in household loans was on par with a rise in financial assets in the third quarter.

But the level of net financial funds of households is still higher than the third-quarter average of 13.6 trillion won in 2009-2017.

"Due to the real estate boom that started in late 2016, people have taken out loans to buy houses," the BOK said.

Funds held by the government and state-run social welfare institutions came to a net 17.9 trillion won in the third quarter, up from a net 13.1 trillion won a year earlier.

Nonfinancial corporations posted net borrowing of 7.2 trillion won in the three months through September, narrowing from net lending of 15.4 trillion won a year ago, on a downside trend in facilities investment.

Meanwhile, the central bank said total financial assets held by the country's nonfinancial sector came to 8,145.5 trillion won at the end of September, up 104 trillion won from three months earlier.

Their debts gained 58.4 trillion won on-quarter to 5,342.8 trillion won.

The ratio of financial assets to liabilities owned by households reached 2.14 at the end of September, with that of the government touching 1.73.

brk@yna.co.kr
(END)

Keywords
HOME TOP
Send Feedback
How can we improve?
Thanks for your feedback!