South Korea's household debt grows in 2013

SEOUL: The debt burden carried by South Korean households edged up this year as debts grew at a brisker pace than incomes, a survey said on Tuesday, putting pressure on policy-makers aiming to maintain a steady recovery in Asia's fourth-largest economy.

Total debt at South Korean households grew by an average 6.8% to 58.18 million won (US$55,000) as of March this year, of which 39.67 million won was in the form of financial debt, the survey by the central bank and two top local authorities found.