South Korea’s indebted households squeezed as war lifts mortgage costs
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Variable-rate exposure leaves borrowers vulnerable as volatility hits credit markets
A large apartment complex is seen from Namsan Tower in central Seoul on Oct. 24, 2024. © AP
SEOUL — A surge in global bond yields triggered by escalating Middle East tensions is driving up mortgage costs in South Korea, squeezing highly leveraged households and testing the resilience of one of Asia’s most debt-laden economies.
