Elderly face severe debt woes, report says

South Koreans in their 60s or older are facing the highest debt-servicing burden to income in the world, a state-run think tank report said on Wednesday.

The ratio of debts to income among households aged 60 or more reached 161 percent in 2014, according to the Korea Development Institute report. It surpassed the country's average ratio of 128 percent for all ages.

The report said South Korea is the only country in the world having a higher debt-to-income ratio for the elderly than for all ages.