이 누리집은 대한민국 공식 전자정부 누리집입니다.

한상넷

비즈니스 정보

Biz News Korea(Eng)

S. Korean public sector debt tops $831 billion, share against GDP edges down

Collected: 2016.12.24

Distributed: 2016.12.26

Source: Go Direct

South Korea`s public sector debt has exceeded 1,000 trillion won ($831 billion) for the first time last year, but its share in the country`s gross domestic product (GDP) fell slightly amid efforts on deleveraging debt in public institutions, the finance ministry said Friday.

The country`s public sector debt, or D3 debt that includes those of the central government and non-financial state corporations, came to 1,003.5 trillion won as of the end of 2015, up 4.8 percent from the previous year`s 957.3 trillion won, according to the Ministry of Strategy and Finance. It represented 64.4 percent of the country`s GDP last year, down 0.1 percentage point from a year ago thanks to deleveraging endeavors and public-sector reform.

General government debt (D2), a common measure for international comparison in fiscal health, stood at 676.2 trillion won, up 9 percent or 55.6 trillion won from a year ago. Its percentage of the GDP inched up 1.6 percentage points from 41.8 percent to 43.4 percent last year. The D2 debt gained due to an increase in government bonds issued to cover deficit and stabilize the local currency market. But its share in the GDP slowed from 2014.

Non-financial state corporation debt fell 9.6 trillion won or 2.4 percent to 398.9 trillion won last year, with its GDP ratio down 1.9 percentage points to 25.6 percent. South Korea’s general government debt and non-financial corporation debt remained lower compared to other OECD member countries. Fiscal integrity is deemed by international organizations and credit rating agencies as one of the strongest features of the Korean economy, the ministry said.

By Kim Gyu-sik

List

Previous: LG Electronics to unveil budget phones with fingerprint scanner, stylus pen at CES

Next: Korea’s NPS, Shinsegae to jointly invest $667 mn in Starfield Goyang