It was found that the debt of households and corporations in Korea, the private sector, is the fastest growing compared to other countries in the world.

In particular, this year, since the coronavirus infection-19 (Corona 19) crisis has led to massive loans to households and businesses, the credit rating of the private sector is expected to surpass twice the gross domestic product (GDP) for the first time in history. is.

This means that the debt owed by households and businesses exceeds twice the value added by the economic agents (family, business, government) in Korea.

Right now, it is inevitable to induce investment and consumption by supplying liquidity and raising loans to prevent households and businesses from losing their lives, and to save the economy, but in the mid- to long-term, the debt burden that has greatly increased can catch the ankle of economic recovery. There is a warning coming out.

According to the latest statistics released by the International Settlement Bank (BIS), the ratio of household credit to GDP in 43 countries in the world was found to be 95.5% in the fourth quarter of last year, 1.6 percentage points higher than the previous quarter (93.9%). Lost.

This ascension was jointly ranked among the countries compared with Hong Kong (1.6%p).

Compared to the fourth quarter of 2018, Korea's one-year climb (3.6%p) was the fourth largest in the world after Hong Kong (8.3%p), Norway (4.6%p) and China (3.7%p).

The ratio of household credit to GDP in Korea (95.5%) is absolute following Switzerland (132%), Australia (119.5%), Denmark (111.7%), Norway (104.8%), Canada (101.3%), and the Netherlands (99.8%) It was the seventh place.

Looking at the credit ratio of non-financial companies to GDP, Korea was 102.1% in the fourth quarter.

This was 1 percentage point higher than the 3rd quarter (101.1%), and the increase from the previous quarter was the fourth after Singapore (6.9%p), Chile (2.7%p) and Saudi Arabia (2.1%p).

Compared to the fourth quarter of 2018, Korea climbed 6.4 percentage points and ranked fourth among 43 countries.

Only Singapore (11.1%p), Chile (9.2%p), and Sweden (7.3%p) had a higher rise than Korea.

Korea's ratio of non-financial firms to GDP (102.1%) was 17th, similar to Japan's 16th (103.9%).
As of the fourth quarter of last year, the ratio of GDP to Korean private (household + corporate) was 197.6% (household 95.5 + 102.1), up 2.6 percentage points from the previous quarter.

This is the third fastest increase rate among Singapore (7.2%p) and Chile (3.1%p) among 43 countries.

As of the fourth quarter of 2018, the rise was 3rd (10.0%p) and only Hong Kong (13.8%p) and Chile (11.1%p) were above Korea.

Moreover, for the first time this year, it is certain that the ratio of private (household + corporate) credit to GDP will exceed 200%.

The growth rate of nominal GDP, which is the ratio denominator, is likely to remain near 0% or even decrease this year, while credit such as household and business loans, which are molecules, has been growing faster since the Corona 19 crisis.

According to Han Eun's'Market of Financial Markets' report, as of May this year, the balance of household loans by banks amounted to 920 trillion won and 32 trillion won, including this year alone, including 2.7 trillion won in mortgage loans.

At the same time, the bank's corporate loan balance (KRW 945.11 trillion) was 76 trillion won more than at the end of last year.