Card Loan Balances in South Korea Hit Record High Amid Economic Struggles

SEOUL, Dec. 21 (Korea Bizwire) – The financial strain on South Korea’s working class has driven card loan balances to an all-time high, reflecting worsening economic conditions for vulnerable populations. As of November 2024, the total card loan balance across nine major card companies, including Lotte, BC, Samsung, Shinhan, and KB Kookmin, reached a record 42.54 [...]