Loans of First-Marriage Newlywed Couples Up 130% in Eight Years
The outstanding loan balance of first-marriage newlywed couples, married within five years, has more than doubled over eight years, showing how heavily the younger generation's debt burden has grown. According to Statistics Korea's statistical database (KOSIS) under the National Data Agency, the median loan balance of first-marriage newlywed couples (the midpoint when borrowing couples are ranked by balance) stood at 179 million won in 2024, up 130.1% from 77.78 million won in 2016, and also up 5.0% from the previous year. The median rose to 90 million won in 2017 and 100 million won in 2018, then exceeded 150 million won in 2021 amid a housing market upswing, reaching the 170-million-won range at 170.51 million won in 2023. The loan balance includes household loans from both first- and second-tier financial institutions and business loans taken out by self-employed individuals.
By segment, the share of large loans of 300 million won or more surged more than fourfold, from 5.3% in 2016 to 24.0% in 2024, marking a clear concentration at the high end. Meanwhile, the share of small loans under 10 million won fell from 8.8% to 4.6% over the same period, loans of 10 million to under 30 million won dropped from 14.7% to 5.7%, and loans of 30 million to under 50 million won shrank from 12.1% to 5.6% — showing the weight of borrowing shifting from small to large loans.
The gap based on homeownership also widened. As of 2024, 33.2% of home-owning first-marriage newlywed couples had loans of 300 million won or more, nearly double the share among non-owners (16.7%). The median loan balance of home-owning couples was 228.24 million won, 86.64 million won higher than that of non-owners (141.60 million won), and the median for owners roughly doubled from 112 million won in 2016 over eight years. Indeed, the share of home-owning newlywed couples living in Seoul whose total official assessed property value exceeded 600 million won rose from 5.9% in 2015 to 31.4% in 2024.
Differences by household type were also confirmed. The median loan balance of dual-income couples in 2024 was 198 million won, more than 40 million won higher than that of single-income couples (157.87 million won), and dual-income couples also led in the share of loans of 300 million won or more, at 28.0% versus 18.8%. Couples with children had a higher median (188.26 million won) than those without (169.50 million won), and the share of loans of 300 million won or more was also higher among couples with children (26.8%) than without (21.1%).
The Bank of Korea raised its base rate in both July and August, bringing it to 3.0%.
