Soaring debt risk
Soaring debt risk Authorities need to prepare exit strategy All economic players ― households, businesses and government ― have recorded a surge in their debt due to the COVID-19 pandemic. This is raising the need for an exit strategy to avoid a debt crisis before it is too late. According to the Bank of Korea (BOK), outstanding bank loans extended to households reached 988.8 trillion won ($896 billion) as of Dec. 31, up 100 trillion won from the previous year. When loans from non-bank financial firms were included, the sum hit a record 1,682 trillion won last September, and is estimate...
Source: koreatimes.co.kr