South Korea's average household debt exceeded 64,000 US dollars into economic "t

Xinhua News Agency, Seoul, November 26 (He Yuan) South Korean media reported on the 26th that according to data from the Bank of Korea, the average debt burden per household in South Korea exceeded 70 million won (about $ 64,000) and the scale of household liabilities became "Time bomb" of the Korean economy.

On the same day, the media quoted Bank of Korea statistics as saying that as of the end of September, the scale of Korean household debts reached 1419 trillion won (about 1.3 trillion U.S. dollars), equivalent to an average of 72.69 million won (about 6.7 Ten thousand U.S. dollars).

Compared with the sharp increase in the size of household debt, the increase in Korean household income has not changed much. Statistics show that in the third quarter of this year, the average monthly household income per family was 4.537 million won (about 4183 US dollars), an increase of 2.1%. However, taking into account price increases, the actual income was only 4.39 million won (about 4048 US dollars), down 0.2%.

The South Korean government has maintained a low interest rate for years to stimulate economic growth. In particular, in order to promote the real estate industry, South Korea introduced the preferential family credit policy in August 2014, which substantially boosted the scale of household liabilities. Industry insiders said that the current scale of household debt in South Korea is not yet triggered by the financial crisis, but for the central bank to face policy dilemma.