Why Every Korean Is Drowning in Debt скачать в хорошем качестве

Why Every Korean Is Drowning in Debt

Second Youtube Channel (More Content but Less Polished Videos):    / @jimmymaio   Instagram:   / notjimmymaio   Let me help you buy or sell homes: linktr.ee/jimmymaio Why does it feel like everyone in South Korea is drowning in debt? From students and office workers to entire families and retirees, the numbers are staggering. Almost every single person in South Korea is drowning in debt. This isn't just personal finance gone wrong—it's a structural crisis. In this video, we're diving deep into South Korea's household debt problem, exploring whether people are living beyond their means, or if the system is setting them up to fail. As of 2025, household debt in South Korea has surged to a staggering $1.34 trillion—over 105% of the nation’s GDP. This level of indebtedness places South Korea among the most heavily indebted countries globally. With debt standing at 105% of GDP in 2022, Korea ranked highest among major economies. What’s particularly concerning is the widespread nature of this debt, affecting nearly every household. The average family owes nearly twice its annual disposable income, creating deep anxieties about economic stability and the potential for long-term financial distress among millions of South Koreans. This situation isn't isolated—it affects almost everyone. Mortgages, education loans, credit cards, microlending, even small business debt and cosmetic financing all aggregate into a vast financial burden. And how does South Korea's situation compare to other countries like the United States? Surprisingly, South Korea’s debt-to-income ratio is significantly higher. While the average American household owes approximately 100% of their annual disposable income, South Korean households average about 200%, highlighting a more severe financial strain.