SEOUL: Korea’s ballooning household debt shows no sign of easing. The Bank of Korea says outstanding household loans extended by local banks came to about 5-hundred-and-40 billion U.S. dollars as of the end of October, up nearly eight billion dollars from the previous month.
This marks the largest monthly gain since the central bank began compiling relevant data in 2008.The BOK attributes the sharp increase to a rise in demand for mortgage loans, on the back of an increase in new apartment sales.
