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Korea’s homegrown nanosatellite successfully launches into space
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
“한국 가계부채 심각한 경제위기 초래할 수 있어”
가파른 가계부채 증가가 한국경제의 뇌관으로 급부상하고 있다. 1997년 외환 금융위기의 주범이 기업의 과다부채였다면, 가계부채가 제2의 경제위기를 초래할 수 있다는 전문가 진단이 증가하고 있다.
홍익대 전성인 교수는 최근 코리아헤럴드와의 인터뷰를 통해 “급증하는 가계부채가 심각한 경제위기를 초래할 수 있다”며 “ 현정부의 부동산 대출 규제 완화 정책이 이미 걷잡을 수 없는 가계부채를 더 부추길 수 있다 ”고 경고했다.
기업대출을 통한 이자수익에 의존도가 높았던 한국의 은행들이 아시아 금융위기 이후 기업대출 규제가 강화되면서 부동산 담보대출 등을 통한 가계 대출을 기하급수적으로 늘리면서 가계부채가 가파르게 증가했다.
한국의 가계부채 증가 속도는 OECD 최대 수준이다. 가계부채는 지난 해 처음으로 1,000조원을 넘어섰고, 2008년과 2013년 사이 연평균 8.7%성장했다. 같은 기간 금융위기 진원지였던 미국은 매년 0.7%씩, 일본은 1.1%씩 줄었다.
전 교수는 부동산 대출 규제 완화 정책의 위험성에 대해 “한국은 빠르게 고령화 사회로 진입하고 있어 결국 부동산 수요가 줄고 집 값은 떨어질 수 밖에 없다” 며, “경기가 침체되고 부동산 거품이 빠지면, 가계의 부채상환 능력이 악화되고, 다른 자산 가치 하락으로 이어질 것”이라고 재차 경고했다.
그는 이어 “정부는 대출을 권장하기보다는 내수 활성화에 초점을 맞춰야 된다”고 강조하면서 “서민층과 중소기업의 인건비 상승을 통해 내수 시장에 돈이 돌게 해야 한다”고 말했다.
내수 활성화는 부자들이 견인하지 않는다는 것이 그의 일관된 주장인데, 전교수는 “여유자금이 생기면 수입품을 구매하거나, 금융 시장에 재투자하는 부자들과 달리, 서민들은 가처분 소득이 생기면 식품이나 의류 등 내수 시장에 돈을 소비하는 경향이 있다”고 덧붙였다.
대중소기업 상생협력을 통해 중소기업을 지원하고 임금 인상을 유도해야 한다고 강조하면서 “대기업의 하청업체 단가 후려치기를 막기 위해서는 시장 단가보다 더 높이 지불하는 기업에게는 세제혜택을, 더 낮게 지불하는 회사에게는 세금을 올리는 정책이 필요하다” 고 말했다.
(코리아헤럴드 신지혜 기자)
<관련 영문기사>
[Herald Interview] Korea faces household debt crisis
The vexing debt problem has come back to haunt the Korean economy. Back in the late 1990s, the economy suffered from humongous corporate debts, but this time it is mounting household debt that has set alarm bells ringing.
“South Korea’s surging household debt could trigger a serious economic crisis,’’ Jun Sung-in, an economics professor at Hongik University, told The Korea Herald in an interview on Thursday.
“The government’s latest push to ease regulations on home mortgages will increase household debts, which are already getting out of the hand.”
After the Asian financial crisis in 1997, banks turned to household loans, especially in the form of mortgages, as the government tightened rules on corporate lending amid corporate restructuring to pull the country out of the crisis. Before the crisis, Korean banks had heavily depended on interest income from corporate loans.
While household debts have gradually increased over the past decade, the situation no longer appears safe. According to the OECD, South Korea’s household debt increased by an annual average of 8.7 percent from 2008 to 2013, while the United States and Japan saw a 0.7 percent and 1.1 percent drop respectively. The nation’s household debt exceeded 1,000 trillion won ($977 billion) for the first time last year.
“The government’s push to encourage more debt to buy houses is risky in this aging society in which the housing prices will eventually fall. When the housing bubble bursts, the insolvency of the mortgages will bring down the value of other assets,” Jun said.
He said that instead of encouraging more households to take out loans, the government should focus on revitalizing the domestic market.
“The government should encourage consumers to spend more money in the domestic market by supporting low-income families or small and medium-sized enterprises through wage increases.”
He pointed out that consumers who spend money in the domestic market are usually low-income people or the middle class, not the rich.
“People in the lower income brackets tend to spend their money on food or clothing when they have a disposable income. The rich tend to invest it in the financial market or buying imported goods, which is not helpful for boosting the domestic market,” he said.
Supporting small and medium-sized enterprises to help raise wages is also important, he pointed out. In order to prevent large companies from
suffocating their subcontractors by slashing prices, regulatory intervention is necessary, he added.
“The government can provide financial incentives to large companies that pay more than the market price to their subcontractors. The companies which pay lower prices should pay more taxes,” the professor said.
By Shin Ji-hye (shinjh@heraldcorp.com)
[Herald Interview] Korea faces household debt crisis
The vexing debt problem has come back to haunt the Korean economy. Back in the late 1990s, the economy suffered from humongous corporate debts, but this time it is mounting household debt that has set alarm bells ringing.
“South Korea’s surging household debt could trigger a serious economic crisis,’’ Jun Sung-in, an economics professor at Hongik University, told The Korea Herald in an interview on Thursday.
“The government’s latest push to ease regulations on home mortgages will increase household debts, which are already getting out of the hand.”
After the Asian financial crisis in 1997, banks turned to household loans, especially in the form of mortgages, as the government tightened rules on corporate lending amid corporate restructuring to pull the country out of the crisis. Before the crisis, Korean banks had heavily depended on interest income from corporate loans.
While household debts have gradually increased over the past decade, the situation no longer appears safe. According to the OECD, South Korea’s household debt increased by an annual average of 8.7 percent from 2008 to 2013, while the United States and Japan saw a 0.7 percent and 1.1 percent drop respectively. The nation’s household debt exceeded 1,000 trillion won ($977 billion) for the first time last year.
“The government’s push to encourage more debt to buy houses is risky in this aging society in which the housing prices will eventually fall. When the housing bubble bursts, the insolvency of the mortgages will bring down the value of other assets,” Jun said.
He said that instead of encouraging more households to take out loans, the government should focus on revitalizing the domestic market.
“The government should encourage consumers to spend more money in the domestic market by supporting low-income families or small and medium-sized enterprises through wage increases.”
He pointed out that consumers who spend money in the domestic market are usually low-income people or the middle class, not the rich.
“People in the lower income brackets tend to spend their money on food or clothing when they have a disposable income. The rich tend to invest it in the financial market or buying imported goods, which is not helpful for boosting the domestic market,” he said.
Supporting small and medium-sized enterprises to help raise wages is also important, he pointed out. In order to prevent large companies from
suffocating their subcontractors by slashing prices, regulatory intervention is necessary, he added.
“The government can provide financial incentives to large companies that pay more than the market price to their subcontractors. The companies which pay lower prices should pay more taxes,” the professor said.
By Shin Ji-hye (shinjh@heraldcorp.com)
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