The Reading / Listening - Debt - Level 2

People around the world have a lot of debt. They owe a lot of money. They use credit cards too much. People are taking out loans for food. More young people are borrowing money and have student loans. South Korea is doing something to help people with debt. It will write off the debts of up to 1.6 million people. The government wants to help people on low incomes. Its National Happiness Fund will help people with money problems to make a fresh start in life. South Koreans who are struggling to pay back debts of less than $9,000 could get help.



The National Happiness Fund started in 2013 to help Korea's poorest people. A former South Korean president said he wanted to reduce inequality in the country. The Happiness Fund will help with this big issue. However, there is still a big problem with people on middle and higher incomes. These people have most of the debt in South Korea. The Korea Times newspaper said the government is trying to stop working families from going bankrupt under "a mountain of debt". It said the government must act quickly because there could be a big debt crisis coming.

Try the same news story at these levels:

    Debt - Level 0 Debt - Level 1   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. They owe a
  2. People are taking out
  3. More young people are
  4. It will write
  5. The government wants
  6. help people with money
  7. make a fresh
  8. struggling to pay
  1. problems
  2. off the debts
  3. back debts
  4. to help people
  5. start in life
  6. lot of money
  7. borrowing money
  8. loans for food

Paragraph 2

  1. help Korea's
  2. he wanted to reduce
  3. help with this big
  4. people on middle
  5. stop working families from
  6. under a mountain
  7. the government must act
  8. a big debt
  1. of debt
  2. issue
  3. crisis coming
  4. inequality
  5. quickly
  6. and higher incomes
  7. going bankrupt
  8. poorest people

Listening — Listen and fill in the gaps

People around the world (1) ___________________ of debt. They (2) ___________________ of money. They use credit cards too much. People are taking (3) ___________________ food. More young people are borrowing money and have student loans. South Korea is doing something to help people with debt. It will (4) ___________________ debts of up to 1.6 million people. The government wants to help (5) ___________________ incomes. Its National Happiness Fund will help people with money problems to make a fresh start in life. South Koreans who are struggling to pay back (6) ___________________ than $9,000 could get help.

The National Happiness Fund (7) ___________________ to help Korea's poorest people. A former South Korean president said he wanted to reduce (8) ___________________ country. The Happiness Fund will help with this big issue. However, there is (9) ___________________ problem with people on middle and higher incomes. These people have most (10) ___________________ in South Korea. The Korea Times newspaper said the government is trying to stop working families (11) ___________________ under "a mountain of debt". It said the government must act quickly because there could be a big (12) ___________________.

Put a slash (/) where the spaces are

Peoplearoundtheworldhavealotofdebt.Theyowealotofmoney.Theyu
secreditcardstoomuch.Peoplearetakingoutloansforfood.Moreyoung
peopleareborrowingmoneyandhavestudentloans.SouthKoreaisdoin
gsomethingtohelppeoplewithdebt.Itwillwrite offthedebtsofupto1.
6millionpeople.Thegovernmentwantstohelppeopleonlowincomes.It
sNationalHappinessFundwillhelppeoplewithmoneyproblemstomake
afreshstartinlife.SouthKoreanswhoarestrugglingtopaybackdebtsofl
essthan$9,000couldgethelp.TheNationalHappinessFundstartedin2
013tohelpKorea'spoorestpeople.AformerSouthKoreanpresidentsai
dhewantedtoreduceinequalityinthecountry.TheHappinessFundwillh
elpwiththisbigissue.However,thereisstillabigproblemwithpeopleon
middleandhigherincomes.ThesepeoplehavemostofthedebtinSouth
Korea.TheKoreaTimesnewspapersaidthegovernmentistryingtostop
workingfamiliesfromgoingbankruptunder"amountainofdebt".Itsaid
thegovernmentmustactquicklybecausetherecouldbeabigdebtcrisisc
oming.

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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