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Korea's household loans reach record high in April

Updated: 2014-06-11 06:11:18 (KST)
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Korea's mounting household debt is threatening to stunt the nation's economic recovery.
Household loans extended by local financial institutions hit a record high for the third straight month in April.
The Bank of Korea said Tuesday that the figure stood at around 680 billion U.S. dollars as of the end of the month, up nearly 5 billion dollars from March.
The central bank says the rise stems from strong home transactions, which topped 92-thousand in April, an increase of 3-thousand from a month earlier.

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fatboyme (USA) JUN 10, 2014    

Good news.