Credit loans at local banks sharply rise in May amid stock rally

Credit loans at major South Korean banks surged in May at the fastest pace in more than five years, data showed Sunday, as investors increasingly took out loans to buy stocks amid a record-breaking market rally. Outstanding credit loans at five major lenders -- KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup -- stood at 107 trillion won ($70.9 billion) as of Friday, according to data compiled by the banks. The total increased by 2.65 trillion won from the end of April, or 2.55 percent on a mont

By The Korea Herald