Voice of America: South Korea Faces Looming Debt Crisis

Voice of America Voice of America is an international news and broadcast organization serving Central and Eastern Europe, the Caucasus, Central Asia, Russia, the Middle East and Balkan countries

South Korea Faces Looming Debt Crisis Sep 25th 2012, 12:32 South Korean economic analysts say rising household debt indicates a U.S. or European-style debt crisis is looming. Baek Seong-jin, who runs a financial advocacy group just across the street from the South Korean National Assembly building, says he sees the signs that times are getting tough for many families. Baek says he has seen two to three times as many people going broke and declaring bankruptcy than a year ago.  He says inflation, stagnant wages and high interest loans are ... Media files: 2075B5EE-C13E-4A77-8A80-9346DE593796_cx0_cy16_cw0_w800_r1.jpg?nocache=1 (image/jpeg, 0 MB)

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