Household Debt at a 'Manageable' Level

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.