South Korea will announce comprehensive measures on household debt in Sept

[SEOUL] South Korea will announce comprehensive measures in September to curb rapidly rising household debt, the country's finance minister said on Thursday.

"The household debt issue is not something that can be managed in a short period of time," Finance Minister Kim Dong Yeon told reporters on the sidelines of a meeting in Seoul.

Mr Kim's comments came a day after data showed South Korea's household debt, especially mortgages, continued to rise in the second quarter albeit at a slower pace compared to the previous quarter.

REUTERS