Study Shows Now Is The Hardest Time Ever To Be A 20 Year-Old Korean

Young generations of South Korea are struggling to find a solution to their ever-growing crushing debt.

The Financial Services Commission surveyed 1,700 young Koreans adults and found that 16% of Koreans between the ages of 19 and 31 borrowed money, and 11.1% of them can’t repay them in time.

They revealed that the age group was short on money because of the high living expenses and difficulties in finding a job.

College students are spending more than they earn from allowances and part-time jobs, and most already have a large loan out for their tuition.

They usually turn to their parents for extra money, but 34.5% responded that they had no one to ask for financial support.