S. Korea's household debt to GDP ratio and rate of rise at world's highest levels: Report

5 years ago
The rate of rise in South Korea's household debt and its proportion to GDP... are both the highest among its peers.
This is according to data by the Institute of International Finance, which shows Korea's household debt to GDP ratio last year... was the highest among the 34 major economies surveyed... at ninety-eight percent.
The average global figure... was sixty-percent.
Korea's debt-to-GDP ratio jumped by three percentage points on-year in 2018,... compared to the zero-point-two percentage point global rise in the same time period.
Experts are concerned that Korea's ballooning household debt... could spill over to corporate insolvencies, in case of rising interest rates or an economic downturn.