Stay updated with breaking news from Borrwing cost. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
A surge in borrowing costs is making life tougher for Koreans who are already struggling with record household debt, with an estimated 1.2 million individual borrowers likely to be incapable of paying back debts. Such an extreme financial situation is pushing more borrowers to turn to private money lenders as a last resort in order to live, which in turn, increases their debt and adds to concerns over the sluggish economy. ....