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Household Debt at 170% of Income, Highest Increase

17:15 January 08, 2018 replay time00:46

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Among OECD Countries

A rapid increase in household debt has been highlighted as a threat to future quality of life in Korea.

According to the '2017 Quality of Life Index’ report, published by the OECD, in 2015, average household debt in Korea was tallied at 170% of net disposable income.

This is far above the average of 30 OECD countries, which stands at 123%, and it was the 10th highest among OECD member countries and 33 non-member countries.

OECD referred the household debt as a factor that threatens future quality of life for Korea and pointed out, "When debts reach a level that cannot be sustained, they become a risk to the economic system.”

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