Hole in Won

The Economist, May 31st

South Korea’s Household Debt

Hole in Won

“Seoul:  Korean households are struggling under mounting debt…Koreans personal finances are coming under strain.  The government is now explicitly seeking to reduce household debt.”

The title is a play on the golf term, hole in one, when the golfball goes into the cup in one stroke, a good thing.  The title here “Hole in Won” is rather deceiving as it conveys a difficult situation, a monetary debt problem with the won, the Korean currency.

 

 

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