Credit card loan balances in South Korea have reached a new record high, rising for the third consecutive month.

According to the Korea Credit Finance Association, the total card loan balance at major card companies stood at approximately 42.99 trillion won as of the end of March.

While the balance continued to grow compared to the previous month, the rate of increase slowed slightly. Industry experts say aggressive lending earlier in the year boosted balances, while end-of-quarter write-offs helped moderate growth.

Economic slowdown and rising inflation have increased financial pressure on households, driving greater reliance on card loans—especially among lower-credit borrowers who depend more on secondary financial institutions.

Meanwhile, balances for refinancing loans and revolving credit declined slightly, while cash advance usage increased, reflecting ongoing liquidity challenges for consumers.

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