Korea Household Debt Rises Most in Decade on Easier Loans
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South Korea’s household debt increased at the fastest pace in at least a decade after President Park Geun Hye loosened lending requirements and the central bank cut borrowing costs.
Bank lending to households rose 6.4 trillion won in October to 507.7 trillion won ($462 billion), the biggest gain since the Bank of Korea began compiling the data in 2003. Mortgage lending and borrowings for long-term rent jumped by 5.5 trillion won to 355.1 trillion won.