August 24, 2017 / 1:34 AM / a year ago

South Korea will announce comprehensive measures on household debt in Sept: finance minister

SEOUL (Reuters) - South Korea will announce comprehensive measures in September to curb rapidly rising household debt, the country’s finance minister said on Thursday.

“The household debt issue is not something that can be managed in a short period of time,” Finance Minister Kim Dong-yeon told reporters on the sidelines of a meeting in Seoul.

Kim’s comments came a day after data showed South Korea’s household debt, especially mortgages, continued to rise in the second quarter albeit at a slower pace compared to the previous quarter.

Reporting by Seunggyu Lim; Writing by Christine Kim; Editing by Shri Navaratnam

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