South Korean newlyweds' median debt rises 130% in eight years

The median loan balance for newlywed couples in their first marriage has increased by 130.1% over the past eight years. According to data from the Korean Statistical Information Service (KOSIS), the median debt for such couples reached 179 million won in 2024, up from 77.78 million won in 2016.

There has been a significant shift toward high-value loans. The proportion of newlyweds with debts exceeding 300 million won rose from 5.3% in 2016 to 24.0% in 2024. Conversely, the percentage of couples with smaller loans (under 50 million won) has steadily declined.

Debt levels vary significantly based on several factors:

• Homeownership: Couples who own homes have a median debt of 228.24 million won, compared to 141.6 million won for those without homes. The proportion of homeowners with debts over 300 million won is 33.2%. • Income Structure: Dual-income couples show a higher median debt of 198 million won, compared to 157.87 million won for single-income households. • Children: Couples with children have a higher median debt of 188.26 million won than those without children (169.5 million won).

Rising interest rates remain a concern for these households, following recent base rate increases by the Bank of Korea.