SEOUL: The combined debt of the government and households in South Korea has surpassed 3,000 trillion won (US$2.26 trillion) for the first time, driven by lower tax revenue, increased bond issuance and aggressive borrowing from households for real estate investments, government data showed Sunday (Aug 25).
According to data from the finance ministry and the central bank, the country's combined national debt and household debt reached a record 3,042 trillion won as of the end of the second quarter.
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