New data shows that the nation’s average household debt has topped 60 million won for the first time.
 
A report released by Statistics Korea on Monday shows that each South Korean household was indebted with an average of 61-point-81 million won as of late March this year.
 
The figure is up two-point-two percent from a year earlier.

On the other hand, the average household assets decreased by two-point-one percent to 342-point-two million won, compared to last year.
  
By age, those in their 50s hold the largest amount of debt coming to more than 78 million won, but the figure is down one-point-four percent from last year.
  
The amount of debt increased in all other age groups from a year ago. In particular, the debt shouldered by those in their 60s or older posted the largest growth of eight-point-six percent.
  
Those aged 30 or under are found to be vulnerable to an interest rate hike, as loans borrowed from financial institutions account for 88 percent of their debt, which amount to approximately 15 million won per head.
  
The average household income increased two-point-three percent from last year to 47-point-67 million, while disposable income, which excludes non-consumption spending such as taxes and pension contributions, comes to 39-point-24 million won.
  
The debt to disposable income ratio stands at 110-point-one percent, up two-point-three percentage points from 2014.