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South Korea may face housing-triggered economic crisis in 2018

A surge in apartments due to be completed in the third quarter of 2017 in the Seoul area may trigger an economic crisis the next year, South Korean market observers say. The glut of housing and accompanying depreciation are problematic due to the country’s heavy burden of household debt and the fact that homeowners typically take on debt to buy homes.

The Korea Times (Seoul) (8/23)