South Korea’s household debt is increasing at the third fastest pace among 42 major economies in the world.
 
According to the Bank for International Settlements (BIS) on Sunday, South Korea’s ratio of household debt to gross domestic product (GDP) stood at 88-point-eight percent in the first quarter, up four-and-a-half percentage points on-year.
 
The growth is the third largest after Norway and Australia, which posted six-point-two percentage points and four-point-nine percentage points, respectively.
 
Australia and Switzerland had the highest household debt to GDP ratio of 125-point-two percent.
 
South Korea's household debt to GDP ratio came in 18th among the 42 countries, but ranked first among emerging economies.