Young Koreans' debt soars as they turn to crypto, stocks and real estate
Millennials and Gen Z in South Korea have been struggling to survive an economy characterized by high asset inflation and suppressed wages. Household debt for younger Koreans — those born from the 1980s onward — has surged to $22.7 billion, up from $3.9 billion from last year. Data from South Korea's Financial Supervisory Service (FSS), released today by Representative Kim Han-jeong of the Democratic Party of Korea, reportedly indicates that the high levels of lending are attributable to an increase in investments in cryptocurrencies, stocks and real estate.While millennials and Gen Z....
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