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A Bank of Korea report showed that the total household loans from local banks and non-bank institutions reached 649.8 trillion won ($597.2 billion) in August, up by only 4.1 percent year-on-year.
It is the slowest growth since October in 2003 when the central bank started to compile related data. The average growth was 6 percent to 8 percent, and hit the highest 8.8 percent in August 2011.
By Park Min-young (claire@heraldcorp.com)
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Articles by Korea Herald
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