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1 in 5 young Koreans suffers from snowballing debt

One out of every four to five Koreans owes debts that are three times as much as their annual income due to costly borrowing rates and surging housing prices, a report showed Monday. Released by Korea Institute for Health and Social Affairs, the report said that the rate for debt-ridden young Koreans was up 2.6 times from 10 years earlier, when relevant data was compiled while the debt amount was up nearly 2.5 times for the same time period.
South Korea Korea Institute For Health Korea Institute Social Affairs Statistics Korea Young People

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