The Reading / Listening - Debt - Level 1

People have a lot of debt. They use credit cards too much and owe a lot of money. People have loans for food. More young people have big student loans. South Korea is doing something to help people with debt. It will cancel the debts of 1.6 million people on low incomes. Its National Happiness Fund will help people with money problems to make a fresh start in life. South Koreans who cannot pay back debts of less than $9,000 could get help.



A former South Korean president started the National Happiness Fund in 2013. He wanted to help Korea's poorest people and make people more equal. However, there is still a big problem because people on middle and higher incomes have most of the debt in South Korea. The government is trying to stop working families from going bankrupt. It said families have "a mountain of debt". It must do something quickly. There could be a big debt crisis coming.

Try the same news story at these levels:

    Debt - Level 0 Debt - Level 2   or  Debt - Level 3

Sources
  • http://www.bbc.com/news/business-42177172
  • http://world.kbs.co.kr/english/news/news_Ec_detail.htm?No=132027&id=Ec
  • http://koreatimes.co.kr/www/news/opinon/2017/11/137_239633.html


Make sure you try all of the online activities for this reading and listening - There are dictations, multiple choice, drag and drop activities, crosswords, hangman, flash cards, matching activities and a whole lot more. Please enjoy :-)



Phrase Matching

Paragraph 1

  1. owe a
  2. young people have big student
  3. doing something
  4. It will cancel the debts
  5. people with money
  6. make a fresh
  7. Koreans who cannot pay
  8. less than
  1. of 1.6 million people
  2. lot of money
  3. problems
  4. $9,000
  5. loans
  6. to help people
  7. back debts
  8. start in life

Paragraph 2

  1. A former South Korean
  2. He wanted to help Korea's poorest
  3. make people more
  4. people on middle and
  5. stop working families from
  6. It said families have a mountain
  7. It must do something
  8. There could be a big debt
  1. people
  2. quickly
  3. going bankrupt
  4. crisis coming
  5. equal
  6. president
  7. higher incomes
  8. of debt

Listening — Listen and fill in the gaps

People have a (1) ___________________. They use credit cards too much and (2) ___________________ of money. People have loans for food. More young people have big student loans. South Korea is doing something (3) ___________________ with debt. It will cancel the debts of 1.6 million people (4) ___________________. Its National Happiness Fund will help people with money problems to make a (5) ___________________ life. South Koreans who cannot pay back debts (6) ___________________ $9,000 could get help.

A former South Korean president started the National Happiness Fund in 2013. He (7) ___________________ Korea's poorest people and make (8) ___________________. However, there is still a big problem because (9) ___________________ and higher incomes have (10) ___________________ debt in South Korea. The government is trying to stop working families from going bankrupt. It said families (11) ___________________ of debt". It must do something quickly. There could be a (12) ___________________ coming.

Put a slash (/) where the spaces are

Peoplehavealotofdebt.Theyusecreditcardstoomuchandowealotofm
oney.Peoplehaveloansforfood.Moreyoungpeoplehavebigstudentloa
ns.SouthKoreaisdoingsomethingtohelppeoplewithdebt.Itwillcancelt
hedebtsof1.6millionpeopleonlowincomes.ItsNationalHappinessFun
dwillhelppeoplewithmoneyproblemstomakeafreshstartinlife.South
Koreanswhocannotpaybackdebtsoflessthan$9,000couldgethelp.Af
ormerSouthKoreanpresidentstartedtheNationalHappinessFundin20
13.HewantedtohelpKorea'spoorestpeopleandmakepeoplemoreequ
al.However,thereisstillabigproblembecausepeopleonmiddleandhig
herincomeshavemostofthedebtinSouthKorea.Thegovernmentistryi
ngtostopworkingfamiliesfromgoingbankrupt.Itsaidfamilieshave"am
ountainofdebt".Itmustdosomethingquickly.Therecouldbeabigdebtri
siscoming.

Student survey

Write five GOOD questions about this topic in the table. Do this in pairs. Each student must write the questions on his / her own paper. When you have finished, interview other students. Write down their answers.

(Please look at page 12 of the PDF to see a photocopiable example of this activity.)

Discussion — Write your own questions

STUDENT A’s QUESTIONS (Do not show these to student B)

(a) ________________

(b) ________________

(c) ________________

(d) ________________

(e) ________________

(f) ________________

(g) ________________

(h) ________________

STUDENT B’s QUESTIONS (Do not show these to student A)

(i) ________________

(j) ________________

(k) ________________

(l) ________________

(m) ________________

(n) ________________

(o) ________________

(p) ________________





Free writing

Write about this topic for 10 minutes. Comment on your partner’s paper.

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Answers

(Please check your answers against the article above.

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