December 19, 2012 11:22
Goldman Sachs said Korea's household debt is at a "manageable" level despite it soaring to roughly US$873 billion as of the end of September and the implicit risk this poses to the economy.
The global investment bank said such debt as a percentage of GDP is higher than that of other OECD countries with a similar per-capita income, but added that it has been growing at a slower pace than before due to signs of stabilization in the housing market, among other factors.
The bank advised the government to support low-income borrowers by providing more social aid and coming up with measures to reduce their liabilities.
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