South Korea’s household debt relative to the size of the economy is reportedly the highest among major economies. 

According to the global debt report by the Institute of International Finance(IIF) on Monday, the nation's household debt to gross domestic product(GDP) ratio came to 104-point-two percent in the second quarter, the highest among 37 nations.

South Korea was followed by Hong Kong with 92 percent, Britain at 89-point-four percent and the United States at 79-point-two percent. It was the only country whose household debt surpassed the size of the economy among the nations reviewed by the IIF. 

The nation's household debt-to-GDP ratio also grew at the fastest pace, adding six percentage points from a year earlier. 

Hong Kong added five-point-nine percentage points over the same period, followed by Thailand with four-point-eight percentage points and Russia with two-point-nine percentage points.