South Korea warn that rapid pick-up in household debt may turn into systemic risk.

Info via Reuters:

• South Korea’s financial
  watchdog chief on Tuesday expressed concern about a rapid
  pick-up in household debt and said such financial imbalance may
  turn into systemic risk.
• “There are concerns that it may turn into a systemic risk,
  as financial imbalances accumulate and soundness deteriorates
  should home prices undergo correction”
• South Korea has one of the world’s highest household
  debt-to-economy ratios, with more than 60% of loans tied to
  mortgages at local banks.

Sheesh … SK not along on high debt. Not at all.

This article was written by Eamonn Sheridan at www.forexlive.com.