SEOUL, April 16 (Korea Bizwire) — The government plans to keep the growth rate of household debt to below 8.2 percent this year by taking a set of steps to curb excessive lending, the nation’s top financial regulator said Monday. Outstanding household debt stood at 1,450.9 trillion won (US$1.35 trillion) in the fourth-quarter of last [...]
SEOUL, March 20 (Korea Bizwire) — South Korea’s household debt is rising rapidly in comparison to economic growth, and is nearing the size of the nation’s GDP. According to the Bank for International Settlements (BIS) on March 18, in last year’s Q3 South Korean household debt stood at 94.4 percent of GDP. This figure marked [...]
SEOUL, March 13 (Korea Bizwire) — Income polarization deepened in 2017 with high income earners making more while low income earners brought in less. In addition, while individual income fluctuated by small margins, average household income and consumption fell. These conclusions were derived from a report published by Shinhan Bank that conducted research on the [...]