S. Korea's household debt-to-GDP ratio rose to 85.9% in 2018: BOK
- 5 years ago
Data suggest South Korean households had record-high debts last year at an average of 69-thousand U.S. dollars each.
According to Statistics Korea, that's an increase of 4-point-6 percent from the year before... and it's significantly faster than the rise in incomes, which rose just 6 tenths of a percent.
The household debt-to-GDP ratio is also at an all-time high of 85-point-9 percent,... an on-year increase of 2-point-1 percentage points.
Analysts say the quality of the debt accrued last year was of lower quality,... and they warn that the rate of debt growth might not slow down.
According to Statistics Korea, that's an increase of 4-point-6 percent from the year before... and it's significantly faster than the rise in incomes, which rose just 6 tenths of a percent.
The household debt-to-GDP ratio is also at an all-time high of 85-point-9 percent,... an on-year increase of 2-point-1 percentage points.
Analysts say the quality of the debt accrued last year was of lower quality,... and they warn that the rate of debt growth might not slow down.