Sorth Korea: 'Family finances collapse under the burden of record debt, rising interest rates and soaring inflation'

from koreatimes.....

"Less than three years after surpassing 500 trillion won, the mountain of debt amassed by Korean households reached a new high of 801.4 trillion won (about $733 billion), rising by 6 trillion won in the first quarter of this year, the Bank of Korea (BOK) said Wednesday. 

The central bank’s figures represent borrowing from financial institutions such as banks, mutual savings banks, credit card companies and state housing finance agencies. When combined with unsecured loans, the country’s household debt is believed to be around 1,000 trillion won, matching an entire year’s gross domestic product (GDP)"...........LINK