Analysis
What rising interest rates mean for the South Korean real estate market
Affluent Koreans may weather their debts, but pain will be acute for marginal groups
South Korean households have amassed a significant amount of household debt. The ROK government is adept at hiding its liabilities in off-balance sheets via public entities like KEPCO, which have quasi-government guarantees but whose liabilities government debt-to-GDP calculations don’t include.
However, households have nowhere to hide much of the money they borrow. Although household debt is a problem across the OECD, it is particularly acute in South Korea. A Korea Pro analysis indicates:
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