South Korean household debt seen nearing perilous level

07/3/2013 | MK.co.kr (South Korea) · Korea Herald (Seoul), The

What many economists consider an alarming rise in borrowing by low-income households and the elderly boosted South Korea's household debt to 961.6 trillion won as of the end of March. Policymakers, however, noted the pace of increase has slowed in recent months, although Finance Minister Hyun Oh-seok conceded that "debt held by the vulnerable bracket including the self-employed has reached a critical level."

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MK.co.kr (South Korea) · Korea Herald (Seoul), The

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