Government stimulus spurring South Koreans into debt binge
Seoul
SOUTH Korean households are piling on debt at the fastest rate in eight years thanks to big-bang stimulus launched by the new finance minister - but as global growth cools the government risks scoring an economic own goal and inflaming deflationary pressures.
That would be particularly ironic as Finance Minister Choi Kyung-hwan has repeatedly warned that Asia's fourth-largest economy is in peril of slipping into Japan-style deflation, which kept growth in the land of the rising sun stagnant for two decades.
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