household debt Archives | Be Korea-savvy
S. Korea’s Household Debt Growth Accelerates in June

S. Korea’s Household Debt Growth Accelerates in June

SEOUL, July 9 (Korea Bizwire) — South Korea’s household debt grew at an increased speed in June, while the rise in corporate loans slowed sharply from a month earlier following the government’s stimulus measures aimed at supporting the pandemic-hit economy, central bank data showed Thursday. Fresh bank loans extended to local households came to 8.1 [...]

Q1 Household Debt Growth Slowest in 1 Year Due to Virus Outbreak

Q1 Household Debt Growth Slowest in 1 Year Due to Virus Outbreak

SEOUL, May 20 (Korea Bizwire) – South Korea’s household debt grew at the slowest pace in one year in the first quarter, central bank data showed Wednesday, amid a sharp decline in spending apparently caused by the new coronavirus outbreak that is expected to hurt the whole economy. Outstanding household credit came to 1,611.3 trillion [...]

Household Debt Growth Slows, but Corporate Loans Surge by Highest Amount in April

Household Debt Growth Slows, but Corporate Loans Surge by Highest Amount in April

SEOUL, May 12 (Korea Bizwire) — Household debt growth in South Korea slowed, but corporate loans spiked by the largest amount in history amid the growing fallout from the new coronavirus outbreak, central bank data showed Tuesday. Fresh bank loans extended to local households came to 4.9 trillion won (US$4 billion) in April, according to [...]

S. Korea’s Household Debt Growth Faster than Peers in 2019

S. Korea’s Household Debt Growth Faster than Peers in 2019

SEOUL, March 4 (Korea Bizwire) — The debt owed by households and small businesses in South Korea rose at one of the world’s fastest rates in 2019 in terms of its ratio to the country’s gross domestic product (GDP), data showed Wednesday. According to the data from the Bank for International Settlement, outstanding debt extended [...]