Business · Economy · 3 hrs ago
More than 30% of South Korean mortgage borrowers owe at least 200 million won
At the end of the second quarter, 30.2% of South Korean mortgage borrowers owed at least 200 million won (about US$ equivalent not stated).
The share was the highest since comparable data began in early 2020, when it was 16.3%.
The figures cover bank and non-bank lenders, including savings banks and credit unions, and draw on credit records for about 2.35 million people.
Rising home prices have increased the amount people need to borrow to buy a home, particularly in Seoul and other parts of the capital region.
Larger loans can mean bigger repayments: a one-percentage-point rate rise would add 2 million won a year in interest on a 200 million won balance, using a simple calculation.
Mortgage rates are rising, with variable-rate offers at major banks reaching above 6%; borrowers could face greater repayment pressure if rates rise further.
More than 30% of South Korean mortgage borrowers had outstanding loans of at least 200 million won in the second quarter of 2026.
The share reached 30.2%, its highest level since comparable data began in the first quarter of 2020.
The Bank of Korea compiled the figures using household credit data covering about 2.35 million people and including bank and non-bank lenders.
The share of borrowers with loans of at least 400 million won also rose, reaching 7.0%.
The report linked the larger loans to rising home prices and warned that higher interest rates could increase repayment burdens.
- Who
- South Korean mortgage borrowers, including customers of banks and non-bank lenders.
- What
- 30.2% had mortgage balances of at least 200 million won.
- When
- At the end of the second quarter of 2026.
- Where
- South Korea.
- Why
- The article attributed the trend to rising home prices, which increase the funds needed to buy a home.
This story does not have two clearly opposing sides.
Borrowers with mortgage balances of at least 200 million won made up 16.3% of the total.
That share reached 30.2%, the highest level in the available series.
Seoul apartment prices rose 0.16% from the previous week, extending a reported run of weekly increases.
- Share with loans of at least 200 million won
- 30.2% in the second quarter of 2026
- Share with loans of at least 400 million won
- 7.0% in the second quarter of 2026
- Share with loans under 200 million won
- 69.8% in the second quarter of 2026
- Data coverage
- About 2.35 million people
- COFIX
- 3.43% in September, up 0.25 percentage points from the previous month