Homes hit by growing bills

Home > Business > Finance

print dictionary print

Homes hit by growing bills

The portion of taxes, insurance payments and financial costs against Korean household income reached a record high last year due mainly to increased debts and social insurance contributions.

According to data compiled by Statistics Korea, Korean households with two or more members spent a monthly average of 722,000 won ($645) on taxes, interest payments and insurance payments last year, which accounted for 18.8 percent of their monthly average income of 3.84 million won.

The portion of nonconsumption expenditures by households was the highest since the statistics agency began compiling data in 2003. Yonhap

More in Finance

5-day winning streak ends as Kospi drops 0.62 percent

Debt is the latest hot product being pushed into the market

China's WeChat Pay and Seoul's Zero Pay now interoperable

Kospi sets another all-time high as optimism continues

Kim Kwang-soo named as sole candidate to head banking federation

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now