Borrowing by South Koreans in their 50s and 60s increased sharply this year as a stock-market boom and initial public offering subscriptions coincided with rising use of insurance policy loans, card loans and share-backed credit. Insurance policy loans at eight insurers reached 47.9119 trillion won at the end of July, up 1.7933 trillion won, or 3.9%, from the end of last year. Balances for borrowers aged 60 and older rose 10.2% to 13.1546 trillion won, while those in their 50s increased 4.5% to 19.6701 trillion won. Card loans totaled 39.5207 trillion won, up 1.1%, with balances rising among borrowers in their 50s and older and falling among younger groups. Loans secured by five major stocks reached 2.9027 trillion won at the end of May, up 24.3% from year-end, with people aged 60 and older accounting for 63%. Regulators and the Bank of Korea have warned that a market correction could force borrowers to provide more collateral or face forced sales, intensifying household-debt risks.