Debt among young people in their 20s and 30s jumped about 30 percent over the past three years during the COVID-19 pandemic.

According to a report submitted by the Bank of Korea to Rep. Yang Kyung-sook of the Democratic Party on Sunday, overall loans extended to young adults posted 514-point-five trillion won at the end of the fourth quarter of last year.

The recent figures represent an increase of 27-point-four percent from 404 trillion won in the fourth quarter of 2019.

The growth rate was the largest among all age groups, with the increased amount also being the largest at 110-point-five trillion won.

The average loan per borrower in the age group increased by 18-point-four percent from about 60 million won to over 70 million won during the period.

Rep. Yang said that the loans of young people with a relatively weak economic foundation have increased excessively during the pandemic, and these indebted young people will likely reduce consumption and thus weigh on the overall economy, calling for preemptive support measures for them.