South Korea’s youth debt binge shows no sign of slowing

One particular concern for policymakers is the fact that recent curbs appear to have had little immediate impact on such borrowing.

SEOUL: When South Korea announced new lending curbs last month, Joe Park, a 34-year-old grocery chain purchasing manager, scrambled to borrow more money before the tighter rules took effect.

After his loan broker said no, he sought alternative financing including much costlier credit card options, knowing such loans would leave him with less money for food and savings.