Statistical Terms

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Definition	Refers to liabilities that require provision of assets or services to an entity at a date in the future due to the results of past transactions or events. It is further classified into current liabilities and fixed liabilities.
Commentary	Includes outstanding balances for money borrowed from companies or financial institutions such as mortgage loans, money borrowed from relatives or private loans, security deposit for leasing a housing, money set aside in the future for credit union, outstanding debts from collective surety, debt from deficit bank accounts, amount of credit card debt, etc.
Source	National Pension Service (Korean Retirement and Income Survey)