Nearly four out of ten South Koreans have an average household debt of 80 million won.

According to mortgage loan data submitted to a ruling party lawmaker by National Information & Credit Evaluation Inc. on Tuesday, as of the end of June, total household debt increased by five-point-three percent or 77 trillion won from a year ago, while average individual debt grew by three-point-three percent or two-point-six million won. 

The data showed that 19 million people or 37 percent of South Koreans have household debt, with the total amounting to some one-thousand-531 trillion won. 

About one third of those with household debt took out loans using their homes as collateral, with their combined debt of 978 trillion won accounting for 64 percent of total household debt. The average debt for those with home-backed loans reached 155 million won, three times as large as the amount for people without.