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S. Korean bank loans rise sharply on COVID-19 economic fallout Updated: 2020-05-31 12:11:17 KST

Data show Korean businesses and households have tried to get through the sudden economic fallout from the coronavirus by borrowing.
Data from the Bank of Korea and Financial Services Commission show that from February to April, new loans amounted to nearly 61 billion U.S. dollars.
That's nearly four times the amount borrowed during the same period last year.
As the outbreak continues in Korea, along with the economic impact, it's expected that the rise in bank loans will continue through the rest of the year.
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