Korea Tops in Asia in Terms of Per-capita Debt Ratio
Korea Tops in Asia in Terms of Per-capita Debt Ratio
  • Korea IT Times (info@koreaittimes.com)
  • 승인 2014.09.26 19:32
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SEOUL, KOREA - Unlike other regions in which per-capita debt ratio is on a downward trend along with the economic recovery, Asian countries, including Korea, see their per-capita debt ratio rise.

According to the Global Wealth Report released by the German financial company Allianz on September 24, the world’s 53 major countries saw the ratio of per-capita debt to per-capita GDP average at 65.1 percent as of the end of last year. This figure is down 6.4 percentage points compared to 71.5 percent in 2009.

Korea’s per-capita debt to per-capita GDP ratio, however, stood at 92.9 percent as of end-2013, the highest among Asian countries.

As for Korea and Malaysia (whose per-capita debt to per-capita GDP ratio is 86.8 percent), Allianz stressed, “If interest rates go up or economic recovery slows down, a large number of heavily indebted households, centering on the low-income families, could fall into defaults.”


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