household debt in Korea Archives

Rising Household Debt Won’t Affect Consumption Due to Rising Asset Value

SEOUL, July 3 (Korea Bizwire) – South Korea will not undergo a sharp drop in consumption despite the ever-rising household debt, a private think tank said Monday, citing growth in property and financial asset value. Households where the head of the family was over 55 have witnessed a 94.51 percent rise in income and 78.32 [...]

Burden of Debt Repayment Worsens for the Economically Disadvantaged

SEOUL, May 2 (Korea Bizwire) – Although the surge in household debt has been slowing down, the burden on the financially disadvantaged has in fact increased. Concerns are spreading about a ‘Balloon Effect’ as the economically disadvantaged are unable to easily obtain bank loans, and are therefore seeing their debt materialize as loans with onerous [...]