Korea's household debt-to-GDP ratio rose faster than almost any other country

5 years ago
Korea's household debt is growing faster than almost any other country in the world.
The Bank for International Settlements and the Bank of Korea compared the household debt of 43 countries... and found that Korea's household debt-to-GDP ratio stood at nearly 97-percent at the end of Q3 last year.
That's almost a one-percentage-point increase compared to the previous quarter... and it means household debt levels are almost equal to the country's entire GDP.
The rate of increase in Korea's household debt was second only to China's, which grew by 1-point-2 percentage points.