Bank household loans surpassed 1,000 trillion won for the first time based on monthly statistical balances.
National debt and corporate debt are also approaching 1,000 trillion won, while bank household loans have also surpassed 1,000 trillion won.
It is pointed out that if interest rates rise, there is a possibility that it may become a serious unstable factor in the financial market, and that national debt can cause generational conflict, as much as the burden of future generations.
According to the’Financial Market Trends in February 2021′ announced by the Bank of Korea on the 10th, the balance of household loans including the transfer of policy mortgage loans by the Housing Finance Corporation as of the end of last month was 100.3 trillion won, 6,700 billion won compared to the end of the previous month. Increased. This is the first to exceed 1,000 trillion won in monthly balance as an official count. This is the result of rising house prices and rising jeonse prices as the day is far away, increasing demand for housing, and thus increasing loans.
The most worrying thing is the speed of household loans. The balance of household loans exceeded 700 trillion won and reached 800 trillion won, which took 21 months, followed by 900 trillion won in 18 months, and 1,000 trillion won in 12 months. It seems that the rate at which you are in debt is getting faster.
Prior to household loans, corporate debt actually exceeded 1,000 trillion won. At the end of last month, the bank’s corporate loan balance was 99.3 trillion won, an increase of 8.9 trillion won compared to the end of the previous month. Considering that the demand for funds from small and medium-sized businesses and self-employed people is increasing due to Corona 19, and the policy fund execution is also following the trend, it is observed that the breakthrough of 1,000 trillion won is the most likely this month.
In addition, during the one year of the corona crisis, various subsidies increased like a snowball, and the national debt was also close to 1,000 trillion won.
According to the financial forecast data for the next 10 years of the National Assembly Budget Office (provisional office) obtained and reported by the Maeil Economic Daily on the 9th of last month through the Office of the People’s Power of the People Gyeong-jun Yoo, the scale of Korean government debt exceeded 1,000 trillion won in 2022 and 2030. It is expected to double in eight years to 2058 trillion won. The national debt (D1) is the sum of the national government debt and the local government net debt. The national debt is expected to increase by about 550 trillion won in eight years from 533.2 trillion won in 2014 to 1085 trillion won in 2022.
As a result, households, businesses, and the state’s debts will increase, and eventually the burden on the present and future generations is expected to increase. The state eventually has to raise taxes to pay off its debts, which leads to a burden on the people and businesses.
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