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SAT, 2014-11-29  KST

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Korea's household debt reaches record high
Updated: 2014-05-27 16:35:35 KST

The level of Korea's household debt has risen yet again to another record high.
The Bank of Korea said Tuesday that the total amount of debt hanging over households amounted to 1 trillion U.S. dollars as of the end of March, up 3.3 billion dollars from three months earlier.
The bank, however noted that the rate of growth had slowed from the 27 billion dollar increase recorded over the fourth quarter of last year.
It attributed the slowdown in debt to a seasonal slowdown in mortgage loans and year-end bonuses.
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