Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
S Korea Borrowers Aged 30-39 See Per Capita Loans Near HKD520,000, Hitting Record High; Household Debt May Weigh on Econ
Recommend 1 Positive 1 Negative 1 |
||||
|
||||
|
According to Yonhap News Agency, data submitted by the Bank of Korea to the National Assembly today (2nd) showed that as of end of last year, the average outstanding bank loan balance per borrower in their 30s in South Korea exceeded KRW100 million for the first time, reaching KRW102.18 million (approximately HKD517,000), up KRW3.82 million YoY (approximately HKD19,700). Data showed that the loan 雰 for those aged 30 to 39 continued to expand, recording growth for two consecutive years and hitting the highest level since related statistics began in 2013. In contrast, the average loan balance per borrower aged 20 to 29 was KRW30.47 million (approximately HKD158,000), down KRW2.88 million YoY (approximately HKD14,900), marking the fourth consecutive year of decline. As loan 雰 expanded across most age groups, the overall average loan balance per borrower in South Korea rose to KRW91.52 million (approximately HKD473,000), a record high. Except for those in their 20s, all other age groups recorded increases in outstanding loan balances. The report cited a Bank of Korea official as saying that tighter regulation of the Debt Service Ratio (DSR) in 2022 limited borrowing capacity for people in their 20s, who generally have relatively lower incomes. In addition, a higher proportion of unsecured credit loans among this age group also weighed on the overall 雰 to a certain extent. A lawmaker was quoted as saying that amid a weaker Korean won exchange rate, elevated inflation and mounting interest rate hike pressure, household debt is becoming a structural risk threatening the economy, and forward-looking risk management needs to be strengthened. (da/u) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
