Heavily indebted Korea at risk of recession, warns Atif Mian

Korea is at risk of falling into a recession, precipitated by an economic downturn stemming from soaring household debt and weak consumer spending, warns Atif Mian, an economics professor at Princeton University.

2025-05-16

Korea's household loans increase at fastest pace in 4 yrs in February

Korea's household credit increased at the fastest pace in four years in February amid a rising property market in the affluent districts of southern Seoul, financial data showed Sunday.

2025-03-02

Household, corporate borrowing falls on tightening regulations

Korean banks reported a decline in household and corporate loans for December. Household loans fell for the first time in nine months.

2025-01-15

Household loan average tops 95 million won mark on home buying

The Bank of Korea said that the average oustanding loan balance per borrower in Korea surpassed the 95 million won mark as of the end of September.

2024-12-25

Mortgage frenzy leads banks to tighten loans ahead of rate cut

Banks are tightening their rules for issuing mortgages as loans surge ahead of anticipated rate cuts and stricter regulations this month.

2024-09-02

How to throw economic policy into disarray

If the government steering goes astray, it will only invite a wave of populism.

2024-08-22

Household debt in Q2 hits new record of $1.42T as mortgage wave continues

Outstanding household credit rebounded in the second quarter to 1,896.2 trillion won as the surge in mortgages continued on expectations of a rate cut soon.

2024-08-20

Mortgages drive spike in outstanding household loan balance

The outstanding household loan balance stood at 1,109.6 trillion won ($806.7 billion) as of the end of May, up 6 trillion won from a month earlier, according to the Bank of Korea.

2024-06-12

Household credit balances shrink for first time in 4 quarters

The Bank of Korea attributed the 0.1 percent contraction to high interest rates, the sluggish housing market and strict loan issuance regulations after a record spike in the third quarter last year.

2024-05-21

The curse of household debt

A lengthy, painful war with debt awaits the country.

2023-12-14

korea joongAng daily