South Korea's sovereign debt hit a record high in 2018, eclipsing KRW1.6 quadrillion ($1.4tn). The government has been trying to raise funds for the massive project by selling off its vast holdings of foreign currency reserves and issuing bonds. 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.
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.