Korea Joongang Daily
Korea JoongAng Daily

Korea's debt-to-GDP ratio projected to reach 60% by 2030 amid slower growth

Korea's national debt is projected to approach 60 percent of its GDP by 2030, government data showed Sunday, with the pace of increase widely expected to accelerate amid slowing growth and growing fiscal burdens.

2026-04-12

Korea's national debt reaches new high, prompting domestic fiscal health concerns

Korea's national debt topped 1.3 quadrillion won ($86 billion) in 2025 for the first time, raising concerns over domestic fiscal health. The nation's debt rose by 130 trillion won in just a year.

2026-04-06

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.

2026-04-06

Hanwha Solutions issues new shares to repay debt amid backlash from investors, politicians

Hanwha Solutions will issue new shares to raise 2.4 trillion won ($1.6 billion) to repay debt, drawing criticism from investors and politicians who feel that the company slapping a band-aid on a fundamental fiscal ailment.

2026-04-01

High-risk households on the rise on year as debt burdens build

More than 80,000 additional Korean households fell into the high-risk category between March 2024 and March 2025, as debt repayment burdens became harder to bear.

2026-03-26

Tighter rules on aggregate household loans may be coming, signals financial watchdog chief

The chief of the country's financial watchdog said Thursday that authorities are working to draw up measures to curb high household debts, signaling that stricter rules may be set in motion this year.

2026-03-26

Debt held by wage workers rises 2.4% in 2024 on mortgage loan increase

The average debt held by wage workers in Korea increased in 2024 from a year earlier, driven largely by growth in mortgage loans despite higher benchmark interest rates, the statistics agency said Tuesday.

2026-03-24

Number of complaints against illegal private lenders hits 13-year high in 2025

The number of complaints filed against illegal money lenders climbed to the highest level in 13 years last year, data showed. A total of 17,538 cases involving illegal private lenders were reported to the Financial Supervisory Service last year.

2026-03-01

One in 20 self-employed borrowers late on loan repayments as economy slows down, data shows

One in 20 self-employed people with loans was late on their debt repayments as of last year, highlighting the sluggish economy amid rising interest rates, data showed Wednesday.

2026-02-18

50% of couples married five years or less don't have children but debt

Half of couples in Korea who have been married for one to five years do not have children, and dual-income spouses who do not own a home are especially less likely to have kids

2025-12-12