In Seoul on May 9, 2024, a man passes by a sign outside a bank displaying information about the institution's loan programs. Industry data revealed that household loans from five major lenders in South Korea increased for the second consecutive month in May, driven by a rise in mortgage and credit loans. The total household loans from the top five lenders grew by 4.7 trillion won ($3.39 billion) from the previous month to reach 702.7 trillion won by the end of May. This marked the highest monthly increase since July 2021, with the surge primarily attributed to a 4.6 trillion-won rise in home-backed loans and a 321 billion-won increase in credit loans. Experts suggested that the significant expansion in household loans was influenced by the escalating home transactions in South Korea, as evidenced by the steady rise in apartment transactions from 26,000 in December to 44,000 in April, according to data from the Korea Real Estate Board. In summary, in May 2024, household loans from major lenders in South Korea experienced a notable increase, driven by a rise in mortgage and credit loans. The total household loans from the top five lenders reached 702.7 trillion won by the end of May, marking the highest monthly increase since July 2021. This growth was primarily attributed to a significant rise in home-backed loans and credit loans, which experts linked to the escalating home transactions in South Korea.