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.

Key information about South Korea Government Debt: % of GDP

• South Korea Government debt accounted for 45.7 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 46.1 % in the previous quarter.
• South Korea government debt to GDP ratio data is updated quarterly, available from Sep 2002 to Sep 2024.
• The data reached an all-time high of 46.4 % in Sep 2023 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 873.5 USD bn in Sep 2024.
• The country's Nominal GDP reached 429.2 USD bn in Mar 2023.

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.

External Debt in South Korea increased to 735572.70 USD Million in the second quarter of 2025 from 683423.20 USD Million in the first quarter of 2025. This dataset provides - South Korea External Debt - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Key information about South Korea Household Debt: % of GDP

• South Korea household debt accounted for 93.7 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 93.9 % in the previous quarter.
• South Korea household debt to GDP ratio is updated quarterly, available from Dec 2002 to Sep 2024.
• The data reached an all-time high of 101.9 % in Sep 2021 and a record low of 61.4 % in Mar 2005.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. The Bank of Korea provides Household Debt in local currency and Nominal GDP in local currency, based on SNA 2008. Household Debt includes NPISH. Household Debt prior to Q4 2008 is based on SNA 1993.


Related information about South Korea Household Debt: % of GDP

• In the latest reports, South Korea Household Debt reached 1,742.9 USD bn in Mar 2023.
• Money Supply M2 in South Korea increased 6.7 % YoY in Sep 2024.
• South Korea Foreign Exchange Reserves was measured at 391.9 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 7.1 Months of Import in Dec 2024.
• South Korea Domestic Credit reached 3,624.4 USD bn in Sep 2024, representing an increased of 5.3 % YoY.
• The country's Non Performing Loans Ratio stood at 0.4 % in Sep 2024, compared with the ratio of 0.4 % in the previous quarter.

Private Debt to GDP in South Korea decreased to 163 percent in 2024 from 166.80 percent in 2023. This dataset provides - South Korea Private 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.

Graph and download economic data for Household Debt to GDP for Republic of Korea (HDTGPDKRQ163N) from Q4 2005 to Q2 2024 about Korea, debt, households, and GDP.

Key information about South Korea National Government Debt

• South Korea National Government Debt reached 874.0 USD bn in Sep 2024, compared with 832.6 USD bn in the previous quarter.
• South Korea National Government Debt data is updated quarterly, available from Sep 2002 to Sep 2024.
• The data reached an all-time high of 874.0 USD bn in Sep 2024 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 1.1 % of its Nominal GDP in Dec 2024.
• The country's Government debt accounted for 45.7 % of its Nominal GDP in Sep 2024.
• South Korea Nominal GDP reached 429.2 USD bn in Mar 2023.

In 2023, South Korean households' debt-to-gross disposable income ratio was about 186.5 percent. This ratio has been on an overall upward trend over the past few years. Household debt mainly includes loans, primarily home mortgages, and other types of liabilities such as consumer credit (e.g., credit card debt, automobile loans). A ratio above 100 percent indicates that the debt owed is greater than the annual disposable income. According to the source, South Korea had one of the highest household debt-to-income ratios among OECD countries in 2023.

Households Debt in South Korea decreased to 90.10 percent of GDP in the fourth quarter of 2024 from 90.70 percent of GDP in the third quarter of 2024. This dataset provides - South Korea Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Central government debt, total (% of GDP) for the Republic of Korea (DEBTTLKRA188A) from 1990 to 2023 about Korea, debt, government, and GDP.

Key information about South Korea Debt Service Ratio: Households

• South Korea Debt Service Ratio: Households was reported at 11.000 % in Sep 2024
• This records a decrease from the previous number of 11.200 % for Jun 2024
• South Korea Debt Service Ratio: Households data is updated quarterly, averaging 10.800 % from Mar 1999 to Sep 2024, with 103 observations
• The data reached an all-time high of 12.200 % in Jun 2022 and a record low of 7.900 % in Jun 1999
• South Korea Debt Service Ratio: Households data remains active status in CEIC and is reported by Bank for International Settlements
• The data is categorized under World Trend Plus’s Association: Banking Sector – Table RC.BIS.DSR: G2 Households (HH) and Non-Profit Institution Serving Households (NPISHs): Quarterly

Key information about South Korea External Debt

• South Korea External Debt reached 670.0 USD bn in Dec 2024, compared with 702.7 USD bn in the previous quarter.
• South Korea External Debt: USD mn data is updated quarterly, available from Dec 1994 to Dec 2024.
• The data reached an all-time high of 702.7 USD bn in Sep 2024 and a record low of 80.9 USD bn in Dec 1994.

Related information about South Korea External Debt

• In the latest reports of South Korea, Current Account recorded a surplus of 9.6 USD bn in Dec 2024.
• Foreign Direct Investment (FDI) increased by 2.6 USD bn in Jun 2023.
• South Korea Direct Investment Abroad expanded by 7.0 USD bn in Dec 2024.
• Its Foreign Portfolio Investment fell by 4.9 USD bn in Dec 2024.
• The country's Nominal GDP was reported at 429.2 USD bn in Mar 2023.

In 2024, the value of household debt in South Korea amounted to about ***** million South Korean won, slightly down from about ***** million South Korean won in the previous year. Household debt in South Korea has risen steadily in recent years.

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

International debt issues to GDP (%) in South Korea was reported at 13.8 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - International debt issues to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

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

Historical dataset showing South Korea external debt by year from N/A to N/A.