Hana Bank has temporarily stopped accepting new online mortgage loan applications from August 7 and will cut new overdraft credit line limits to 50 million won (approximately $35,525) on August 11 before suspending new variable-rate mortgage lending through both branch and online channels from August 12. The move is part of a broader tightening cycle across South Korea's banking sector as major lenders try to slow household debt growth that has already exceeded this year's combined targets. The clampdown has spread beyond online channels and now includes the variable-rate mortgage products that recently accounted for about 80% of new home loans as borrowers shifted toward lower floating rates. IBK Industrial Bank of Korea and NH NongHyup Bank have taken similar steps, while Shinhan Bank paused new mortgage applications through loan solicitors, KB Kookmin Bank halved its home-purchase mortgage cap to 300 million won (approximately $213,151) from 600 million won and raised rates on key household loans by as much as 0.53 percentage point, and Woori Bank cut monthly branch-level mortgage handling limits. As of August 6, household loan balances at KB Kookmin, Shinhan, Hana, Woori and NH NongHyup, excluding policy loans, stood at 650.38 trillion won (approximately $462.1 billion), up 5.4 trillion won (approximately $3.8 billion) from the end of last year and more than 1 trillion won above the five banks' combined annual growth target of 4.33 trillion won (approximately $3.1 billion). Mortgage balances at the five banks rose by 2.8 trillion won (approximately $2.0 billion) last month, the biggest monthly increase in 11 months. The squeeze is pushing some demand toward internet-only banks including KakaoBank, where loan quotas are reportedly being used up as soon as applications open. At the same time, pressure is growing from homebuyers needing balance-payment loans for new apartments nearing occupancy. Financial authorities are reviewing targeted support while keeping overall volume controls in place, and major banks have begun setting aside dedicated limits for some apartment complexes, including 500 billion won (approximately $355.3 million) for Suwon's Maegyo Station Palusid and 100 billion won each from KB Kookmin, Shinhan and Hana for The H Bangbae in Seoul's Seocho District.