It is expected that nearly 30 trillion Korean won in loans issued by the South Korean banking industry in the first quarter will not be recovered.

Data released by the South Korean financial industry on Sunday showed that nearly 30 trillion Korean won in loans issued by the four major financial institutions in South Korea in the first quarter were categorized as "expected losses". According to reports from these four financial institutions, as of the end of March, the total amount of loans held by these groups reached 2.9 trillion Korean won, which is considered essentially unrecoverable, marking a 5.8% increase compared to the same period last year. These four major financial institutions are KB Financial Group, Shinhan Financial Group, Hana Financial Group, and Woori Financial Group.