SEOUL, Dec. 3 (Yonhap) -- Home-backed loans extended by South Korea's five major lenders increased at a slower pace in November compared with the previous month, industry data showed Tuesday, as the government applies stricter lending rules.
The outstanding home-backed loans extended by KB Kookmin Bank, Shinhan Bank, Woori Bank, KEB Hana Bank and NH Bank stood at 436.07 trillion won (US$368 billion) as of November, up 2.78 trillion won from a month earlier, according to the data.
The increase compares with a 3.08 trillion-won gain in October, the data showed.
The banks appear to be slowing down home-backed lending to meet the target of 5 percent household loan growth set by the government.
As of end-October, four of the five banks had their household lending growing at over 5 percent, with household loans extended by NH Nonghyup jumping 9.5 percent on-year over the cited period.
In November, NH Nonghyup had its outstanding home-backed loans reduced by 356.6 billion won, following a 163.7 billion-won reduction the month before.
Woori Bank also had its overall home-backed loans reduced by 114.5 billion won in the month. Its household lending had gained 6.5 percent on-year as of end-October.
KB Kookmin, on the other hand, more than doubled its fresh home-backed loans from a month earlier to 1.44 trillion won in November as its overall household loans had gained 2.1 percent on-year as of end-October.
Home-backed loans account for more than 70 percent of household loans in South Korea.
Bumpy road lies ahead for Samsung, even after heir avoids detention
One month into eased social distancing, S. Korea wrestles with cluster infections, cases with unknown routes
Virus outbreak sheds light on overlooked side of highly touted 'fast' delivery services
Moon's post-corona presidency laden with tough tasks
S. Korea shifts toward new normal of everyday quarantine but wary of 'blind spots'