Rising household debt has become a major policy concern in Korea. By the end of 2012, it had risen to 164% of disposable income, well above the OECD average of 133%.
Public finances are under pressure around the world. We asked finance ministers from a range of countries: “What actions is your government taking to bolster public finances, while upholding growth and services?”
The intensification of the global financial crisis in late 2008 led to large capital outflows from Korea and turmoil in its capital markets.