OECD optimistic about Korea’s household debt problem


The Organization for Economic Co-operation and Development(OECD) has predicted that Korea’s GDP will grow by nearly 4% next year which is higher than the average OECD growth rate of 2.3% and the average world growth rate of 3.6%.

Meanwhile, the report also raised the possibility that the high level of household debt and a weak property market could limit private spending. However, the OECD added that the Korean government’s actions to solve household debt problems could make the situation better than expected.


Visit the OECD website for detailed report: http://www.oecd.org/eco/outlook/koreaeconomicforecastsummary.htm