World Economy

Household Debts Climb

Household Debts ClimbHousehold Debts Climb

While the South Korean market is confident that there will be another rate cut due to President Park Geun-hye’s economic comments made during her New Year’s address, household debt continued to grow at an alarming rate in November, NewsNow reported. The Bank of Korea said, household debts increased by 7.5t won ($6.8b) compared to the previous month, raising the total of household debt to 738.2t won.