Korea Ranks 2nd in Growth of Household Debt-to-GDP Ratio

  • Arirang News

    February 04, 2020 08:45

    Korea's household debt-to-GDP ratio grew at the second-fastest pace in the world last year.

    The Institute of International Finance said on Monday that Korea's household debt stood at 95.1 percent of GDP as of the third quarter of last year, up 3.9 percentage points on-year. The growth was only behind Hong Kong's increase of 6.3 percentage points.

    Korea also saw its non-financial business debt-to-GDP ratio jump by 6.3 percentage points to 101.6 percent, the second-largest increase after Brazil with 7.5 percentage points.

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