South Korea's household credit expanded to a record high in the second quarter amid a continued rise in banks' home-backed loans.

According to the latest data by the Bank of Korea(BOK) on Wednesday, household credit reached a record high of one-thousand-637-point-three trillion won as of June, up 25-point-nine trillion won from three months earlier.

The total credit is the highest since the central bank compiled related data in the fourth quarter of 2002, and is considered a record since the amount of household credit prior to 2002 was far smaller.

Loans extended by financial institutions, including commercial lenders and mutual savings banks, totaled a record one-point-55 quadrillion won in the April to June period, up 23-point-nine trillion won from the previous quarter.

Amid soaring housing prices, mortgage loans rose 14-point-eight trillion won on-quarter in the second quarter, almost doubling from an eight-point-four trillion won on-quarter gain from the previous year.