State data shows that the nation’s average household debt has topped 70 million won for the first time this year.

According to Bank of Korea on Sunday, the country's combined household debt reached about one-point-42 quadrillion won in the third quarter.

The figure means that each South Korean household was indebted with an average of 72-point-69 million won based on the nation's estimated 19-point-five million households this year.