(MENAFN) S. Korean household debt grew in 2015 from a year earlier as people with high salaries moved to buy homes.
Accordingly, the average household was USD 52,500mn in debt as of late March this year, up 2.2 percent compared to the previous year.
In addition, 64.3 percent of all nation households had debt, down 1.6 percentage points from last year, of the whole debt, 57.3 percent were mortgage credits.
"The increase is the result of people with relatively high incomes, who did not own a home in the past, opting to purchase a house that led to more borrowing," said head of the agency's statistics.
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