On November 24, Korean household debt grew at a faster pace in the third quarter than in the past three months. It has increased more than 10% over the previous year and puts a heavy burden on the national economy.
According to the Bank of Korea, easy monetary policy has continued to drive up mortgage demand.
Household debt, including loans and other debts , accelerated from 11.1% in the June- quarter to 1,300 trillion won in the third quarter, an increase of 11.2%.
The current base rate is 1.25%, the lowest ever.
The rapid increase in household debt is a risk to destabilize household finances as interest rates rise despite years of government efforts to reduce private sector debt
저작권자 © Korea IT Times 무단전재 및 재배포 금지
