Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Yang Jun-sok, professor of economics at the Catholic University of Korea.
Professor Yang, good to have you back on today.
Stocks on Wall Street got a boost overnight, it seems, on hopes for the vaccine rollout by Pfizer and a stimulus package from Congress. The S&P closing at a new record high, for the first time above 37-hundred. What's the story in the global markets?
Korea's main stock index surged today by more than two percent, making back all of yesterday's decline and more. What happened in the local market?
Last month, loans to households rose by 13 trillion won, which is about 12 billion dollars. This is the biggest increase on record, and a greater portion of it coming from loans that are not mortgages. What's driving this increase in borrowing, Professor, and what stands out to you?