S.Korea's household debt growth slows on lower housing transaction

SEOUL, March 13 (Xinhua) -- South Korea's household debt growth slowed last month as the government's measures to control speculative investment in the real estate market lowered housing transactions, financial watchdog data showed Wednesday.

Household debts extended by all financial institutions rose 1.3 trillion won (1.1 billion U.S. dollars) in February, down from an expansion of 3.3 trillion won (2.9 billion U.S. dollars) in the same month of last year, according to joint data by the Financial Services Commission and the Financial Supervisory Service.

The slower increase came as the government announced a set of measures to control speculative investment in the property market, leading to lower home transaction.

The number of apartment trading in the capital Seoul was 2,000 in February, down from 11,000 tallied a year earlier.

Household debts extended by banks gained 2.5 trillion won (2.2 billion U.S. dollars) in February, almost unchanged from a year earlier.

debts owed by households to nonmonetary institutions, including savings banks, insurers and credit union, reduced 1.2 trillion won (1 billion U.S. dollars) last month on weak demand for mortgage loan.