October Overdue Loan Rate for Insurers Remains at 0.69%

SEOUL, KOREA - The October ratio of loans in arrears for insurance companies remained at the same level as the previous month. According to the Financial Supervisory Service on December 22, the balance outstanding for loans given out by insurers was 125.6 trillion won as of the end of October, up 1.2 percent from the previous month's 124.1 trillion won.

 

 

Of this, the balances for individuals and corporate customers were 82.1 trillion won and 43.5 trillion won, respectively, up 1.0 and 1.6 percent. The overall ratio of overdue balance was 0.69 percent, the same as in September.

 

A Financial Supervisory Service official said, "The overdue rate for October maintained the same level as in September when the ratio fell by a large margin. The soundness of loans made out by the insurance companies is solid right now."