About 315-thousand South Korean households were at high risk of defaulting on debt last year, according to new government data.

The Bank of Korea submitted a financial stability report to lawmakers Thursday, saying as of  late March of last year, one-million-263-thousand households were at risk of default.

Those at-risk households accounted for eleven-point-six percent of all indebted South Korean households owing a total of 186-point-seven trillion won in financial liability, more than a fifth of total household debt in the country.

The report also says around 166-thousand households joined the ranks of at-risk households last March from the year before.