Household debt up 250 trillion won during Moon’s term

Economy

SEJONG -- South Korean households have been taking out an increasing amount of loans to invest in the real estate or capital market over the past few years. This has been in line with a fever for mortgages or credit-based loans amid low benchmark interest rate, which has stayed under 2 percent per annum for more than five years, and is currently at an all-time low of 0.5 percent. According to the Bank of Korea, outstanding household debt - the total of financial loans and credit-based payment