New data finds South Korea's household debt increased at the world's fastest pace in the fourth quarter of last year.

According to the recent data by the Bank of International Settlement on Sunday, the total household debt in South Korea was equivalent to 95-point-five percent of the gross domestic product(GDP) at the end of the fourth quarter last year, up one-point-six percentage points from the previous quarter.

The on-quarter gain marks the largest among 43 economies. South Korea and Hong Kong shared the top place, followed by Norway, China, Belgium, Thailand and Russia.

From a year earlier, South Korea posted a growth of three-point-six percentage points, marking the fourth largest gain after Hong Kong, Norway and China.