A total of 27,864 borrowers reapplied for debt relief through August this year as continued financial strain is felt across all age groups.
Nearly 30,000 people in Korea have reapplied for debt restructuring this year after previously receiving debt relief. This has raised concerns over a growing cycle of debt as financially vulnerable borrowers struggle to stay afloat amid the prolonged economic slowdown.
A total of 27,864 people reapplied for debt restructuring between January and August this year, according to Credit Counseling and Recovery Service data…