A survey finds that seven in ten South Koreans expect the economy will worsen next year.

According to the recent poll commissioned by the Korea Economic Research Institute, over 70 percent of about one-thousand South Korean adults had a negative economic outlook for next year, while just eleven percent were optimistic.

As for the biggest risks to the economy next year, 22 percent each cited slowing economic growth and soaring household debts, followed by sluggish private consumption.

The survey conducted by Mono Research showed that 62 percent of the respondents said their livelihoods worsened this year from a year ago, while some ten percent responded otherwise.

Rising prices were cited as the biggest economic difficulties this year, followed by little income growth and soaring real estate prices.