Core Insights - The Bank of Korea reported that household credit reached a record high of 1952.8 trillion won in Q2 2023, marking an increase of 24.6 trillion won from the previous quarter, the largest increase since Q3 2021 [1] - Household loans have been growing for five consecutive quarters after a decline in Q1 2022 due to monetary tightening [1] Household Loan Breakdown - The total household loan balance was 1832.6 trillion won, with housing mortgage loans accounting for 1148.2 trillion won, an increase of 14.9 trillion won [1] - Other loans amounted to 684.4 trillion won, increasing by 8.2 trillion won [1] - Policy loans reached 331.2 trillion won, representing 28.8% of housing mortgage loans, although the proportion slightly decreased despite an increase of 2.6 trillion won [1] Financial Institution Contributions - Commercial banks held 993.7 trillion won in household loans, up by 19.3 trillion won [1] - Non-bank financial institutions reported a loan balance of 314.2 trillion won, continuing a growth trend for three consecutive quarters [1] Market Dynamics - The rise in household loans is attributed to increased demand for housing mortgages driven by active residential transactions, alongside expanded demand for credit loans and financing from securities companies [1] - It is anticipated that the ratio of household debt to GDP will see a slight increase in the first half of this year [1]