Household Debt Is Rising at a Record Pace in South Korea: ChartBy
Household debt rose by 41.1 trillion won ($33 billion) in the fourth quarter -- the biggest quarterly gain on record -- to an all-time high of 1,207 trillion won. The Bank of Korea said Wednesday that a boom in mortgages for apartments is behind the latest jump. The scale of the debt and the pace of gain is likely to renew debate on whether Korea should cut borrowing costs further to spur growth, or hold back to avoid inflating debt further.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.