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More Jobs in South Korea; In-depth Plan to Counter Rise in Household Debt


八月, 24 2017
watermark Economic news

South Korea will implement an extensive plan in September that targets the rising household debt as stated by the country’s finance minister on Thursday. He also stated that concern regarding the household debt could not be fixed in a short-period of time. His rhetorics came out the day after the household debt data has been released as the mortgages also continue to increase in the second quarter but a slower pace contrast to the first quarter.


The most recent report from the central bank states that the household debt persists to rise worth 1,400 trillion won in the second quarter. This data was published following the implementation of financial restrictions in the last month to curb the overheated housing market. Some of the cities including Seoul was labeled as "overheated speculative districts" to limit money borrowers. However, homeowners shell out higher capital gain taxes needed in selling their houses.  


On the other hand, the government intends to boost employment by allocating 12 percent focused on job creation in the budget for 2018. At the same time, the minimum wage will also be increased to make sure the people are given proper income as part of its attempt to raise the income of regular people. Primarily, the goal is to secure household gains through higher earned income.


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外汇本质上有高度的投机性和复杂性,可能并不适合所有投资者。 外汇交易可能会带来重大的收益或损失。 因此,建议您不要承担无法承受的损失。 在使用ForexMart提供的服务之前,请确认外汇交易相关联的风险。 必要时寻求独立的财务意见。请注意,过去的业绩和预测都不是未来结果的可靠指标。