August 20, 2024_ Household debt in South Korea hit a record high in the second quarter of 2024, with mortgage loans increasing significantly....
August 20, 2024_ Household debt in South Korea hit a record high in the second quarter of 2024, with mortgage loans increasing significantly. According to data released by the Bank of Korea, total household debt reached 1,896.2 trillion won, up 13.8 trillion from the previous quarter. Mortgage loans, which account for the majority of debt, increased by 16 trillion won, reaching a record high of 1,092.7 trillion won. This increase was fueled by rising demand for home financing, with real estate transactions nationwide increasing. The news was reported by 아주경제. Authorities are monitoring the situation and planning measures to manage household debt sustainably.
