South Korea's household debt rose to a record high in the first quarter, although growth slowed slightly.  

According to data by the Bank of Korea(BOK) on Wednesday, the country's outstanding household debt came to one thousand-468 trillion won in the January-March period, up 17-point-two trillion won from the previous quarter. 

The first quarter figure marks the largest since the central bank began compiling related data in the fourth quarter in 2002. The increase rate of household credit is higher than that of household income, posing a possible threat to the country's financial security.

However, the quarterly growth decreased from last year’s 28-point-eight trillion won in the second quarter and 31-point-four trillion won in the third quarter. 

A BOK official said that the bank is making steady efforts to manage the household loans, but a large supply of new apartments this year may contribute to a further increase in household debt.