Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Yoon's approval rating plunges to all-time low

    Yoon's approval rating plunges to all-time low
  2. 2

    S. Korea votes in favor of Palestinian bid for UN membership

    S. Korea votes in favor of Palestinian bid for UN membership
  3. 3

    Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'

    Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
  4. 4

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
  5. 5

    [From the Scene] Monks, Buddhists hail return of remains of Buddhas

    [From the Scene] Monks, Buddhists hail return of remains of Buddhas
  1. 6

    Medical schools granted enrollment quota flexibility for next year

    Medical schools granted enrollment quota flexibility for next year
  2. 7

    Yoon offers first one-on-one meeting with opposition leader next week

    Yoon offers first one-on-one meeting with opposition leader next week
  3. 8

    France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger

    France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger
  4. 9

    Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan

    Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
  5. 10

    Chinese man behind drug scam targeting teens nabbed in Cambodia

    Chinese man behind drug scam targeting teens nabbed in Cambodia
소아쌤

Mortgage loans by young household heads up sharply in past 4 1/2

By Paige Shin

Published : July 4, 2017 - 15:47

    • Link copied

Mortgage loans by those in their 20s and 30s have risen dramatically in the past 4 1/2 years, government data showed Tuesday, raising concerns of overdue payments.

The average household whose head is in his 20s and 30s had 115 million won ($100,104) in mortgage loans last September, up 37.6 percent from 4 1/2 years earlier, according to figures by the Bank of Korea.


(Yonhap) (Yonhap)


Those in their 40s had 116 million won in mortgage loans last September, up 22.7 percent from 4 1/2 years earlier.

The comparable figures were 111 million won and 95.7 million won (16.7 percent increase) for those in their 50s and 60s, respectively.

People paying for mortgages in their 20s and 30s, meanwhile, used up 47.7 percent of their credit card limit as of last September, up 6.5 percent from 4 1/2 years ago.

The comparable figures were 42 percent, 36.6 percent and 33 percent for those in their 40s, 50s and 60s, respectively.

"We need to scrutinize the risk factors of those in their 20s and 30s for overdue payments," Chung Ho-sung, researcher of the central bank, said, noting the higher level of mortgage loans and credit card spending can lead to risk of overdue payments. (Yonhap)

More from Headlines