South Korea recorded a Government Debt to GDP of 46.80 percent of the country's Gross Domestic Product in 2024. This dataset provides - South Korea Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, South Korea's national debt accounted for approximately 46.9 percent of the country's gross domestic product (GDP), which was a slight increase from about 45.9 percent in the previous year. The debt-to-GDP ratio of South Korea has been slowly but steadily increasing over the years. With the implementation of emergency relief funds and increased government spending during the COVID-19 outbreak in 2020, it was expected that the debt ratio would continue to grow in the future.

Key information about South Korea Government Debt: % of GDP

• South Korea Government debt accounted for 47.0 % of the country's Nominal GDP in Jun 2025, compared with the ratio of 45.7 % in the previous quarter.
• South Korea government debt to GDP ratio data is updated quarterly, available from Sep 2002 to Jun 2025.
• The data reached an all-time high of 47.0 % in Jun 2025 and a record low of 15.3 % in Mar 2003.

CEIC calculates quarterly Government Debt as % of Nominal GDP from quarterly Government Debt and rolling sum of quarterly Nominal GDP. The Ministry of Finance and Economy provides Government Debt in local currency. The Bank of Korea provides Nominal GDP in local currency. Government Debt covers Central Government only.


Related information about South Korea Government Debt: % of GDP

• In the latest reports, South Korea National Government Debt reached 896.3 USD bn in Sep 2025.
• The country's Nominal GDP reached 471.9 USD bn in Jun 2025.

The national debt in South Korea was forecast to continuously increase between 2024 and 2030 by in total ****** billion U.S. dollars (+***** percent). After the tenth consecutive increasing year, the national debt is estimated to reach **** trillion U.S. dollars and therefore a new peak in 2030. Notably, the national debt was continuously increasing over the past years.The indicator describes the general government gross debt which consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future.Find more key insights for the national debt in countries like Japan, China, and Hong Kong SAR China.

Key information about South Korea National Government Debt

• South Korea National Government Debt reached 896.3 USD bn in Sep 2025, compared with 900.2 USD bn in the previous quarter.
• South Korea National Government Debt data is updated quarterly, available from Sep 2002 to Sep 2025.
• The data reached an all-time high of 900.2 USD bn in Jun 2025 and a record low of 99.9 USD bn in Sep 2002.

CEIC calculates quarterly Government Debt from monthly Government Debt and converts it into USD. Statistics Korea provides Government Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Government Debt covers Central Government only. Government Deb prior to Q1 2014 is calculated from quarterly Government Debt.


Related information about South Korea National Government Debt

• In the latest reports, South Korea Consolidated Fiscal Balance recorded a deficit equal to 1.4 % of its Nominal GDP in Jun 2025.
• The country's Government debt accounted for 47.0 % of its Nominal GDP in Jun 2025.
• South Korea Nominal GDP reached 471.9 USD bn in Jun 2025.

The ratio of national debt to gross domestic product (GDP) of South Korea was 49.82 percent in 2024. Between 1990 and 2024, the ratio rose by 37.03 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The ratio will steadily rise by 14.47 percentage points over the period from 2024 to 2030, reflecting a clear upward trend.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

In 2023, South Korea's national debt reached approximately 1,134 trillion South Korean won. The debt has been steadily increasing over the past decades and is projected to exceed 1,400 trillion won by 2027.

Graph and download economic data for General government gross debt for Korea (GGGDTAKRA188N) from 1990 to 2023 about Korea, debt, gross, and government.

South Korea ND: Local Government Debt data was reported at 34,100.000 KRW bn in 2024. This records a decrease from the previous number of 34,200.000 KRW bn for 2023. South Korea ND: Local Government Debt data is updated yearly, averaging 17,800.000 KRW bn from Dec 1997 (Median) to 2024, with 28 observations. The data reached an all-time high of 35,000.000 KRW bn in 2016 and a record low of 6,900.000 KRW bn in 2003. South Korea ND: Local Government Debt data remains active status in CEIC and is reported by Ministry of Economy and Finance. The data is categorized under Global Database’s South Korea – Table KR.F011: National Government Debt.

Historical dataset showing South Korea national debt by year from 1990 to 2023.

South Korea ND: Central Govt Debt: by Instrument: Government Bonds (GB) data was reported at 1,139,800.000 KRW bn in 2024. This records an increase from the previous number of 1,091,100.000 KRW bn for 2023. South Korea ND: Central Govt Debt: by Instrument: Government Bonds (GB) data is updated yearly, averaging 382,150.000 KRW bn from Dec 1997 (Median) to 2024, with 28 observations. The data reached an all-time high of 1,139,800.000 KRW bn in 2024 and a record low of 28,600.000 KRW bn in 1997. South Korea ND: Central Govt Debt: by Instrument: Government Bonds (GB) data remains active status in CEIC and is reported by Ministry of Economy and Finance. The data is categorized under Global Database’s South Korea – Table KR.F011: National Government Debt.

Korea Gross Public Debt: % of GDP: General Government: Foreign Currency data was reported at 0.448 % in Dec 2016. This records a decrease from the previous number of 0.471 % for Dec 2015. Korea Gross Public Debt: % of GDP: General Government: Foreign Currency data is updated quarterly, averaging 0.548 % from Dec 2011 (Median) to Dec 2016, with 6 observations. The data reached an all-time high of 0.812 % in Dec 2011 and a record low of 0.448 % in Dec 2016. Korea Gross Public Debt: % of GDP: General Government: Foreign Currency data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: QPSD: Gross Public Debt: % of GDP: General Government.

South Korea ND: Central Govt Debt: by Instrument: GB: Treasury Bonds data was reported at 1,047,900.000 KRW bn in 2024. This records an increase from the previous number of 998,000.000 KRW bn for 2023. South Korea ND: Central Govt Debt: by Instrument: GB: Treasury Bonds data is updated yearly, averaging 325,100.000 KRW bn from Dec 1997 (Median) to 2024, with 28 observations. The data reached an all-time high of 1,047,900.000 KRW bn in 2024 and a record low of 6,300.000 KRW bn in 1997. South Korea ND: Central Govt Debt: by Instrument: GB: Treasury Bonds data remains active status in CEIC and is reported by Ministry of Economy and Finance. The data is categorized under Global Database’s South Korea – Table KR.F011: National Government Debt.

The ratio of national debt to gross domestic product (GDP) in South Korea was forecast to continuously increase between 2024 and 2030 by in total 6.7 percentage points. After the tenth consecutive increasing year, the ratio is estimated to reach 59.19 percent and therefore a new peak in 2030. Notably, the ratio of national debt to gross domestic product (GDP) was continuously increasing over the past years.This indicator describes the general government gross debt in relation to the country's GDP. According to the International Monetary Fund, gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. The GDP, on the other hand, refers to the total value of final goods and services produced during a year.Find more key insights for the ratio of national debt to gross domestic product (GDP) in countries like China, Japan, and Taiwan.

Central government debt, total (current LCU) in South Korea was reported at 1.16952323249252E+15 LCU in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - Central government debt, total (current LCU) - actual values, historical data, forecasts and projections were sourced from the World Bank on November of 2025.

The national debt of South Korea was 957.72 billion U.S. dollars in 2024. Following a continuous upward trend, the national debt has risen by 937.84 billion U.S. dollars since 1990. Between 2024 and 2030, the national debt will rise by 554.01 billion U.S. dollars, continuing its consistent upward trajectory.

South Korea ND: Central Govt Debt: by Instrument: Loans data was reported at 1,200.000 KRW bn in 2024. This stayed constant from the previous number of 1,200.000 KRW bn for 2023. South Korea ND: Central Govt Debt: by Instrument: Loans data is updated yearly, averaging 3,850.000 KRW bn from Dec 1997 (Median) to 2024, with 28 observations. The data reached an all-time high of 22,500.000 KRW bn in 2001 and a record low of 1,200.000 KRW bn in 2024. South Korea ND: Central Govt Debt: by Instrument: Loans data remains active status in CEIC and is reported by Ministry of Economy and Finance. The data is categorized under Global Database’s South Korea – Table KR.F011: National Government Debt.

This horizontal bar chart displays central government debt (% of GDP) by country using the aggregation average, weighted by gdp in Korea. The data is about countries per year.

This scatter chart displays central government debt (% of GDP) against GDP (current US$) in Korea. The data is about countries per year.

This bar chart displays central government debt (% of GDP) by continent using the aggregation average, weighted by gdp in Korea. The data is about countries per year.