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The amount of debt of the new borrowers was 3.7% of the total. This is an increase of 0.4 percentage points compared to last year (3.3%). This is the effect of a 17.3% increase in the average amount of new borrower loans from 39.09 million won last year to 45.84 million won this year.
In particular, the debt of new borrowers aged 30 and under this year represented 55.3% of the total, higher than last year (52.4%), and the rest of the age groups decreased at the same time.
The debt growth rate of new borrowers under 30 also outpaced all other age groups. As of the third quarter of this year, their average debt holding amount was 43.55 million won, which is lower than that of other age groups. Average debt under 30 years (36.32 million won) increased 19.9% over the same period last year for new lenders.
This rate of increase exceeds △ 40 (53.93 million won, 16.9% ↑), 50 (46.77 million won, 14.4% ↑) and △ 60 and above (4.61 million won won, 12.9% ↑).
According to the Bank of Korea’s Domestic Debt Database (DB) on the 26th, the number of new borrowers represented 6.7% of all borrowers through the third quarter of this year, up from 7.1% for the year past.
By age group, the proportion of all new borrowers age 30 and younger was 58.4% (based on number of borrowers) through the third quarter of this year. This share has increased each year from 49.5% in 2017.
On the other hand, the proportion of new borrowers aged 40 years decreased from 19.4% in 2017 to 14.9% this year, and also 50 years old (16.9% → 13.8%) and 60 years and over (14.2% → 12.9%). When based on the amount of debt held, the pattern was similar.
Bahn explained: “Young people tend to have a lot of loans for the first time in their lives due to employment, etc., but recently, as their home purchases have increased rapidly, the size and amount of loans seems to have increased.
Reporter Kim Joo-kyung newswatch @
