Info via Reuters:
South Korea’s financial
watchdog chief on Tuesday expressed concern about a rapid
pick-up in household debt and said such financial imbalance may
turn into systemic risk. “There are concerns that it may turn into a systemic risk,
as financial imbalances accumulate and soundness deteriorates
should home prices undergo correction” South Korea has one of the world’s highest household
debt-to-economy ratios, with more than 60% of loans tied to
mortgages at local banks.
Sheesh … SK not along on high debt. Not at all.
This article was written by Eamonn Sheridan at www.forexlive.com.
