SEOUL : South Korea's central bank warned on Thursday that the debt repayment burden among vulnerable households could increase sharply as interest rates rise, underlining the growing negative impact of the debt binge in Asia's fourth largest economy.
The bank said the increase was a concern as household income for many dwindle amid social distancing curbs in place to fight COVID-19. "Funds concentrated into the asset market, as well as rapid home price increases, could bode ill for financial stability when market sentiment of economic entities rapidly change due to internal or external shocks," the report said.
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