The Korea Herald

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Apr 7, 2020

S. Korea’s national debt hits record W1,700tr in 2019

South Korea’s national debt last year surpassed 1,700 trillion won ($1.39 trillion) for the first time, weighed down by increased treasury bond issuance coupled with the government’s consequent fiscal expansion, a government report showed Tuesday. The national debt jumped 60.2 trillion won on-year to 1,743.6 trillion won as of end of 2019, according to the annual national financial report reviewed and endorsed by the Cabinet. The Cabinet meeting was presided by Prime Minister Chung

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