SEOUL, Feb. 14 (Yonhap) -- The money supply in South Korea rose steadily in December thanks to increasing private lending, central bank data showed Thursday.
The country's M2 totaled 2,699.9 trillion won (US$2.39 trillion) in December, up 6.8 percent from 2,527.6 trillion won a year earlier, according to the data from the Bank of Korea (BOK).
The growth rate of South Korea's M2 has remained at the modestly high level of over 5 percent since the beginning of 2018 thanks to increased corporate credit.
From a month earlier, the money supply edged up 0.3 percent in December, slowing down from a 0.5 percent on-month gain in November, the BOK added.
M2 is a measure of the money supply that counts the currency in circulation, including bank debentures and deposits with a maturity of less than two years, along with stock investments. It is a key economic indicator closely monitored by the authorities.