The government gross debt of South Korea in 2024 was 52.49% of GDP. In 2023, the value was amounted to 50.70% of GDP. It has been growing in this country for already 6 years in a row. Since 1990, for the whole period of observation by IMF, this indicator has increased in 4.10 times. The lowest gross debt as a share of GDP in South Korea was recorded in 1996, with a value of 7.81%. The highest value was in 2024, when it reached 52.49% of GDP. The gross debt includes debt liabilities in the form of SDRs, currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable.
Additional infomation: About indicator
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. This includes debt liabilities in the form of SDRs, currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable. Thus, all liabilities in the GFSM 2001 system are debt, except for equity and investment fund shares and financial derivatives and employee stock options. Debt can be valued at current market, nominal, or face values (GFSM 2001, paragraph 7.110).
