Corporate loan growth slows in Q2

Corporate loan growth in South Korea decelerated in the second quarter of this year from three months earlier, central bank data showed Friday, as lenders tightened credit risk management. The outstanding loans extended to local companies came to 1,941.6 trillion won (US$1.45 trillion) as of end-June, up 25 trillion won from three months earlier, following a 27 trillion-won advance the previous quarter, according to the data from the Bank of Korea (BOK). By sector, loans to manufacturing firms soared 6.8 trillion won on-quarter to 476.2 trillion won as of the end of June, following the previous quarter's 6.3 trillion-won fall. Total loans in the service sector expanded 4.5 trillion won to 1,228.8 trillion won, compared with growth of 4.6 trillion won in the first quarter, the data showed. Source: Yonhap News Agency