SEOUL, Oct. 29 (Korea Bizwire) – Korea’s economic actors, including households, firms, and governments, have all exceeded the critical point of debt burden as set by the World Economic Forum. According to Congressman Lee Hahn-koo (New Frontier Party), the ratios of debt to the gross domestic products as of the end of 2013 for households, firms, and [...]
SEOUL, Oct. 25 (Korea Bizwire) – A “loan shark” is a derogatory term referring to a person or body that offers loans at extremely high interest rates. Interest rates are so high that their lending practices are often being accused of exploiting a borrower’s financial troubles. Cash loans to people in dire need of money, [...]
SEOUL, Sep. 28 (Korea Bizwire) – The balance of money surplus held by Korean households has approached to the 30-trillion-won level during the second quarter of this year, due to weak private consumption. This is the highest level since the Bank of Korea changed the way it compiles the data in the first quarter in [...]
SEOUL, Korea, Mar 20 (Korea Bizwire) – Among Korean households, there is an increasing number of those who are suffering from the lack of money to spend, not to mention for money to save. The economic burden to the households is not limited to the decline in income and increasing debt. The main cause of [...]
SEOUL, Korea, Feb 18 (Korea Bizwire) – Hyundai Economic Research Institute has published a report “Household Debt 1,000 Trillion Won and How to Address the Problem by income Group.” The following is an excerpt: The volume of household debt is estimated at 992 trillion won as of the end of September 2013. It is expected to [...]
![[Kobiz Feature] “Household Debt”: Time Bomb Waiting to Explode](http://koreabizwire.com/wp/wp-content/uploads/2014/01/4273218381_a3316d3330_z.jpg "[Kobiz Feature] “Household Debt”: Time Bomb Waiting to Explode")
SEOUL, Korea, Jan 03 (Korea Bizwire) – Last year Korea’s economy was wobbled by the concerns of a tapering of the U.S. Fed’s quantitative easing policy. If the American monetary authorities start reducing the bank’s US$85 billion in monthly bond purchases, the reasoning went, the won-dollar exchange rate would fluctuate wildly and send huge shock waves to [...]
SEOUL, Korea, Nov 05 (Korea Bizwire) - In a dire situation where the total household debt balance as of the end of June this year reaches the record-high level of 980 trillion won, the Seoul Metropolitan City Government sets out to run a program called “Regaining Hope Project” that includes consultation on how to file for bankruptcy and [...]
SEOUL, Korea, Sep 16 (Korea Bizwire) – We are seeing so many comments by the world’s famous economists and top market analysts that the Korean economy is doing so well. The Wall Street Journal said on August 28, “Korea is the winner amid the emerging market turmoil.” JPMorgan chief economist Michael Feroli also said on September [...]