Teenager Credit Delinquents Number 11,000

Teenagers listed as credit delinquents because of overdue mobile phone charge and credit card loan numbered 11,000.

Half of total credit delinquents are the borrowers in arrears of less than 10 million won.

Korea Federation of Banks (KFB) announced on the 14th that individual credit delinquents in May numbered 2.47 million and 9,421 persons increasing by 24,638 persons (0.99 percent) from 2.45 million and 5,053 persons in March.

By the ages, teenagers numbered 11,000(0.4 percent), those in twenties 425,000(17.2 percent), those in thirties 705,000 (28.4 percent), and those over forties 1,338,000(54.0 percent).

By the amounts in arrears, delinquents for less than 10 million won numbered 1,407,000 or 56.8 percent.

Shaky petty loans of financial institutions are becoming reality as credit delinquents listed by banks, saving banks and guarantee insurance companies increased at 673,869 persons or 6.1 percent more than in March.

Credit delinquents from delayed payment of local tax, national tax, and communication charges also increased 0.75 percent at 1,920,249 persons.

Do-Young Kim nirvana1@donga.com