Average Loan Amount for Individual Business Owners 164.28 Million KRW... Increased by 4.7% in One Year

Statistics Korea, 2018 Job Administration Statistics: Debt of Self-Employed (Enterprises)

Delinquency Rate Based on Loan Balance 0.32%…Up 0.05%P

[Sejong=Asia Economy Reporter Joo Sang-don] According to the 'Job Administration Statistics for Self-Employed (Enterprises) Debt' released by Statistics Korea on the 29th, the average loan for self-employed (enterprises) as of the end of 2018 was 164.28 million KRW, an increase of 7.42 million KRW (4.7%) compared to the previous year.

The median loan for self-employed individuals with outstanding loans was 84.54 million KRW, up 5.54 million KRW (7.0%).

The delinquency rate based on loan balance for self-employed individuals rose by 0.05 percentage points to 0.32% compared to the previous year.

The average loan for men was 183.64 million KRW, and for women, it was 136.30 million KRW. The delinquency rates based on loan balance were 0.36% and 0.25%, respectively.

By age group, the average loans were highest in their 50s at 190.60 million KRW, followed by those in their 60s at 177.29 million KRW, and those in their 40s at 171.59 million KRW. The delinquency rates based on loan balance were 0.47% for those aged 20 and below, 0.33% for those in their 40s, and 0.32% for those in their 30s.

By industry, the average loans were highest in Health and Social Welfare at 488.94 million KRW, followed by Real Estate at 278.39 million KRW. The lowest were in Transportation and Warehousing at 63.23 million KRW, and Business Facility Management and Leasing at 86.66 million KRW.

The delinquency rates based on loan balance were highest in Construction at 0.54%, followed by Business Facility Management and Leasing at 0.51%, and lowest in Health and Social Welfare and Others at 0.21% each.

The average loan for self-employed individuals with sales of 1 billion KRW or more was 795.49 million KRW, while those with sales below 300 million KRW had an average loan of 111.54 million KRW. The average loan for self-employed individuals without employees was 131.47 million KRW, and for those with employees, it was 336.95 million KRW.