This debt data has reached the highest level in South Korea in the past decade. Recently, according to South Korean media reports, South Korea's domestic private sector debt reached 9.9 trillion yuan in the third quarter, close to the 10 trillion mark. Some experts pointed out that this debt data is the highest level since 2002. As can be seen from the data, Korean household credit loans increased by 2% to 44 trillion won, while debts other than credit loans reached 1.580 trillion won, which also broke the record. Among household loans, mortgage loans grew the fastest, reaching 890 trillion won, mainly because the housing prices in many cities in South Korea began to skyrocket recently, which led to the rising loan amount of home buyers.

The staff of the Bank of Korea also said that consumption in South Korea rebounded in the third quarter, especially online e-commerce transactions increased significantly, which also led to a continuous increase in the amount of credit card bills of Korean consumers. According to statistics, in the second quarter of this year, the total debt of Korean households and enterprises accounted for 206% of South Korea's GDP, while this figure was only 205% in the first quarter, which shows the recent growth rate of domestic debt in South Korea. The debt growth of enterprises has reached 9% faster, which is also a new high for many years. The Bank of Korea also expressed concern that the continued economic downturn may push up the debt level of enterprises again.

Relevant persons said that the increase in debt was mainly affected by the epidemic. Due to the worldwide economic blockade, the performance of Korean enterprises continues to be sluggish. Many consumer service industries have to push up debt to ease the financial pressure, and ordinary employees are also facing the risk of layoffs and salary cuts, so they continue to accumulate debt.

Some economic experts have calculated that the per capita household debt in South Korea exceeds 32 million won, that is, per person 1.9 million yuan, while the per capita debt in China is 40,000 yuan. In contrast, the debt burden of Korean residents is obviously too heavy.