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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Australian retail sales unexpectedly decline, currency drops
South Korea’s March factory output falls most in 15 months
Deflation reaches UK stores as non-food prices fall 0.6%
Japan’s March factory output rises 3.8% vs month earlier
Hong Kong vies with US in Bitcoin ETF market after crypto’s revival
More UK companies plan price rises but wage expectations cool: Lloyds