Buildings are seen in Yeouido, Seoul, on this undated file photograph. Korea Occasions file
Company loans rose on the slowest tempo in eight years within the fourth quarter of 2024 amid heightened uncertainties, central financial institution information confirmed Friday.
The excellent loans prolonged to native corporations got here to 1,962.2 trillion gained ($1.36 trillion) as of end-December, up 3.3 trillion gained from three months earlier, based on the information from the Financial institution of Korea (BOK).
It marked the slowest development because the fourth quarter of 2016, when the loans fell 900 billion gained on-quarter.
By sector, loans to manufacturing companies fell 1.6 trillion gained on-quarter to 483.4 trillion gained as of end-December, marking the primary quarterly fall because the fourth quarter of 2023.
Loans within the service sector, nonetheless, expanded 3.9 trillion gained to 1,253.7 trillion gained over the cited interval, although the expansion slowed from a 7.5 trillion-won enhance within the earlier quarter.
„Company demand for facility funds appeared to have shrunk as a result of uncertainties at residence and overseas,“ a BOK official stated.
Korea is dealing with a number of draw back dangers amid uncertainties stemming from U.S. President Donald Trump’s new tariff plans and home political chaos brought on by now-suspended President Yoon Suk Yeol’s stunning martial regulation imposition in December. (Yonhap)
