SEJONG, June 12 (Korea Bizwire) — South Korea’s national debt is growing at a rate of 3 million won (US$2,730) per second and stands at 17.6 million won per person, a parliamentary office said Saturday. The total debt by the central and provincial governments in Asia’s fourth-largest economy reached 912.5 trillion won as of 3:30 [...]
SEOUL, Oct. 19 (Korea Bizwire) — South Korea’s national debt is expected to soar over the next four years, which may have a negative impact on the country’s creditworthiness, a report said Monday. In particular, Seoul’s interest-bearing state debt is likely to rocket nearly 78 percent over the period based on the government’s 2020-24 fiscal [...]
SEJONG, May 10 (Korea Bizwire) — South Korea’s per capita national debt has surpassed 14 million won (US$11,500) and is expected to go up due to a spending hike meant to mitigate the economic fallout from the coronavirus outbreak, data showed Sunday. The data posted on the website of the National Assembly Budget Office showed [...]
SEJONG, May 29 (Korea Bizwire) — South Korea’s national debt surpassed the 1,200 trillion won (US$1.08 trillion) mark in 2014 due to increased fiscal spending for the economic recovery and a rise in pension payments for government employees and service members, a government report showed Friday. Gross national debt, including appropriations for pension payments, stood at [...]
SEOUL, April 7 (Korea Bizwire) — South Korea’s national debt rose by 39 trillion won (US$35.9 billion) in 2014 from a year earlier as the government engaged in expansionary spending to prop up the weak economy, the finance ministry said Tuesday. According to the 2014 settlement of accounts, the national debt that covers the central [...]