SEOUL, June 10 (Xinhua) -- South Korea's industrial lending rose faster in the first quarter due to stronger demand from manufacturers and service companies, central bank data showed Tuesday.
Debt, owed by all industries to the deposit-taking financial institutions, amounted to 1,979.5 trillion won (1.46 trillion U.S. dollars) at the end of March, up 17.3 trillion won (12.7 billion dollars) from three months ago, according to the Bank of Korea.
It was sharply up from an expansion of 3.3 trillion won (2.4 billion dollars) in the fourth quarter of last year.
Loan to manufacturers grew 8.0 trillion won (5.9 billion dollars) during the January-March quarter, rebounding from a reduction of 1.6 trillion won (1.2 billion dollars) in the previous quarter.
Loan demand from service companies mounted 7.8 trillion won (5.7 billion dollars) in the first quarter, faster than a growth of 3.9 trillion won (2.9 billion dollars) in the prior quarter.
Lending to construction companies slid 300 billion won (220.7 million dollars) in the first quarter after shrinking 1.2 trillion won (882.7 million dollars) in the previous quarter.
The industrial lending for operating funds climbed 9.5 trillion won (7.0 billion dollars), while the lending for facilities' funds swelled 7.8 trillion won (5.7 billion dollars) in the cited quarter. Enditem
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