Tag: National debt

National debt

Latest News

Korean won bills are pictured on Feb. 5. [YONHAP]

National debt tops 1.3 quadrillion won, nearing 50% against GDP

Korea's national debt exceeded 1.3 quadrillion won ($861.2 billion) last year, with the debt-to-GDP ratio nearing 50 percent, the Ministry of Finance and Economy announced Monday.

2026.4.6

A Hana Bank official holds up 50,000 won ($36) bills at the bank's office in Jung District, central Seoul, on Feb. 19. [NEWS1]

Treasury bonds, national debt pile up as interest payments approach $22 billion

Korea's interest payments on Treasury bonds may exceed 30 trillion won ($22 billion) this year due to rising debt and increased borrowing, posing fiscal challenges and concerns about long-term fiscal policy.

2025.8.17

Most popular

How to empty the state coffers fast

egardless of winning or losing an election, a bad policy and legacy must be corrected.

2023.6.1

Finance Minister Choo Kyung-ho talks about the national debt at the government complex in Sejong on August 2022. [YONHAP]

Korea's debt hits 1,000 trillion won despite record revenues

Korea's national debt broke 1,000 trillion won ($758 billion) for the first time last year despite a jump in tax revenues. The debt is projected to rise further this year — more than 100 million won a minute — on higher spending and as debt...

2023.4.10

Korea's national debt tops ￦1,000T for first time ever

Korea's national debt surpassed the 1,000 trillion won ($781.07 billion) mark for the first time ever amid the government's expansionary fiscal spending to support the economic recovery, data showed Thursday.

2022.6.16

Democratic Party Lee Jae-myung, right, and People Power Party Yoon Suk-yeol at a studio in Mapo on Monday before the televised presidential candidate debate. [YONHAP]

Lee Jae-myung's currency comment raises eyebrows and questions

The Democratic Party's candidate for president has stunned the nation by declaring that the won is close to becoming a key international currency. Lee Jae-myung made the comment Monday during a televised debate.

2022.2.22

Members of the National Assembly discuss the supplementary budget proposed by the government at the National Assembly in Yeouido, southern Seoul, Jan. 5. [YONHAP]

National debt per capita could pass ￦20 million this year

The national debt per capita is expected to surpass 20 million won ($16,800) for the first time this year after seven supplementary budgets have been spent since 2020 in an effort to stimulate the economy during the Covid-19 pandemic. According ...

2022.1.16

Why money matters

As controversy over the basic income promise escalated, 1976 Nobel Prize-winning economist Milton Friedman’s name was recalled. As the godfather of monetary policy, Friedman — famous for the axiom “money matters” — mentioned four...

2021.9.7

Populism out of control

One hundred million won ($86,000) is big money for ordinary citizens. Those who struggled to pay off any debt know it well. If you borrow 100 million won through mortgage loans with relatively low interest rates, you should repay...

2021.9.5

DP chairman Lee Hae-chan and other DP lawmakers discuss a fourth supplementary budget at a party meeting held Monday. [JOONGANG ILBO]

Budget blowout leads to a record shortfall in the first half

The budget was awash in red ink in the first half of the year, with the shortfall during that period more than twice the shortfall recorded for the full year of 2019.

2020.8.11