The amount of household credit is surging in line with Korea′s household debt problem.
Preliminary data from the Bank of Korea shows that，… during the second quarter of this year， household credit hit an all－time high… spiking 27 billion U.S. dollars from the previous quarter，… to exceed roughly 9－hundred－and－47 billion dollars as of the end of June.
This also represents an 80 billion dollar jump from the same period last year，… marking the fastest on－year growth.
Household credit，… which is calculated every quarter， includes credit purchases and loans from financial institutions.
Borrowing has steadily increased since the central bank lowered the key interest rate four times since last year… to boost sluggish economy activity.