Business · Economy · 54 mins ago

South Korea to release household debt and jobs data next week

South Korea to release household debt and jobs data next week

South Korean authorities are due to release October household debt and jobs figures during the week of November 9 to 13.

The data will show whether household borrowing rose again after total financial-sector household loans fell by 2.2 trillion won in September.

Major banks’ household loans increased by 2.77 trillion won in October, suggesting borrowing may have turned upward.

Employment figures will also be watched because the number of workers aged 15 to 34 fell by 98,000 in September compared with a year earlier.

The government and ruling party are expected to present proposed financial company governance changes on November 12, after delays in preparing the plan.

The proposals are expected to tighten approval rules for financial group chair reappointments and require nomination committee leaders to explain their choices to shareholders.

The Bank of Korea and government agencies will also publish updates on financial markets, trade prices and the wider economy.

1 source

Related

What people are saying

Bank of Korea Monetary Policy Boardcentral bank policy body
Household loans declined as other loans were repaid, while housing-related loans continued to increase.
via Yonhap
South Korea’s finance ministrygovernment ministry
Exports have increased substantially and investment has continued to grow at a solid pace, while consumption has improved gradually, sustaining a firm economic recovery.
via Yonhap