South Korea's sovereign debt hit a record high in 2009, eclipsing KRW1.6 quadrillion ($1.4tn). The government's settlement of accounts shows that state assets reached KRW2.12 quadrillion, while its liabilities amounted to KRW1.68 quadrillion last year, 56% of which would be necessary to cover government employee and military personnel pension payments if the pension funds collapsed, a YoY growth of KRW94tn. Meanwhile, South Korea's actual debts have been calculated at 38.2% of its GDP, at KRW680.7tn. This KRW20.5tn YoY increase marks the country's slowest debt growth since 2018.
South Korea's sovereign debt hit a record high in 2018, eclipsing KRW1.6 quadrillion ($1.4tn). The government's settlement of accounts shows that state assets reached KRW2.12 quadrillion, while its liabilities amounted to KRW1.68 quadrillion last year, 56% of which would be necessary to cover government employee and military personnel pension payments if the pension funds collapsed, a YoY growth of KRW94tn. Meanwhile, South Korea's actual debts have been calculated at 38.2% of its GDP, at KRW680.7tn. This KRW20.5tn YoY increase marks the country's slowest debt growth since 2009.