South Korea's household debts sharply increased with per-person debt expected to surpass 30 million won by the end of this year.
 
According to data by the Bank of Korea and Statistics Korea, the country's household credit reached one-thousand-493 trillion won as of the end of the second quarter, with the population estimated at 51-point-six million this year.
 
Simply calculated, it means a South Korean household owed 75-point-six million won to local lenders and card firms, and 28-point-nine million won of debt per person.
 
The per-person household debt topped ten million won first in the third quarter in 2004 and surpassed the 20 million won mark in the fourth quarter in 2013. It is expected to exceed the 30 million won mark by the end of this year.