Central government debt, total in South Korea
South Korea: Central government debt, total was 1,222.54 trillion current LCU in 2024. ◆ Volatile
Central government debt, total in South Korea, 1990–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
South Korea recorded 1,222.54 trillion current LCU for central government debt, total in 2024. That is the highest value across all 21 years on record.
Compared with earlier readings it is up 4.5% on the previous year and up 114.3% over ten years.
Over the whole period, central government debt, total in South Korea peaked at 1,222.54 trillion current LCU in 2024 and was at its lowest, 14.93 trillion current LCU, in 1990.
That places South Korea 2nd out of 83 countries with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Central government debt, total in South Korea, year by year
| Year | current LCU | Change |
|---|---|---|
| 1990 | 14.93 trillion current LCU | — |
| 1991 | 24.84 trillion current LCU | +66.4% |
| 1992 | 27.74 trillion current LCU | +11.7% |
| 1993 | 29.00 trillion current LCU | +4.5% |
| 1994 | 30.47 trillion current LCU | +5.1% |
| 1995 | 31.54 trillion current LCU | +3.5% |
| 1996 | 33.69 trillion current LCU | +6.8% |
| 1997 | 47.05 trillion current LCU | +39.7% |
| 2012 | 466.73 trillion current LCU | +892.1% |
| 2013 | 524.23 trillion current LCU | +12.3% |
| 2014 | 570.47 trillion current LCU | +8.8% |
| 2015 | 621.64 trillion current LCU | +9.0% |
| 2016 | 662.64 trillion current LCU | +6.6% |
| 2017 | 685.61 trillion current LCU | +3.5% |
| 2018 | 712.88 trillion current LCU | +4.0% |
| 2019 | 769.21 trillion current LCU | +7.9% |
| 2020 | 901.11 trillion current LCU | +17.1% |
| 2021 | 1,018.37 trillion current LCU | +13.0% |
| 2022 | 1,106.38 trillion current LCU | +8.6% |
| 2023 | 1,169.52 trillion current LCU | +5.7% |
| 2024 | 1,222.54 trillion current LCU | +4.5% |
South Korea compared with similar countries
- South Korea's 1,222.54 trillion current LCU is above the median for high income countries, which is 359.73 billion current LCU, 3398.5× the median. (28 countries reporting)
- South Korea's 1,222.54 trillion current LCU is above the median for East Asia & Pacific, which is 736.11 billion current LCU, 1660.8× the median. (16 countries reporting)
Biggest year-on-year movements
Years where Central government debt, total in South Korea changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2012 | +892.1% | 47.05 trillion current LCU | 466.73 trillion current LCU |
| 1991 | +66.4% | 14.93 trillion current LCU | 24.84 trillion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 29.90 trillion current LCU | 14.93 trillion current LCU | 47.05 trillion current LCU | 8 |
| 2010s | 626.68 trillion current LCU | 466.73 trillion current LCU | 769.21 trillion current LCU | 8 |
| 2020s | 1,083.58 trillion current LCU | 901.11 trillion current LCU | 1,222.54 trillion current LCU | 5 |
Countries ranked near South Korea
More public sector data for South Korea
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Democracy 7 (2025)
- Chief executive of the government is elected 1 (2025)
- Elected parliament 1 (2025)
- Men's universal right to vote 1 (2025)
Frequently asked questions
- What is central government debt, total in South Korea?
- Central government debt, total in South Korea was 1,222.54 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest central government debt, total recorded in South Korea?
- The highest recorded value was 1,222.54 trillion current LCU in 2024.
- What is the lowest central government debt, total recorded in South Korea?
- The lowest recorded value was 14.93 trillion current LCU in 1990.
- How does South Korea rank for central government debt, total?
- South Korea ranks 2nd out of 83 countries with data for 2024.
- Is central government debt, total rising or falling in South Korea?
- Over the last ten years it is up 114.3%. The long-run trend across the full record is volatile.
- Where does this South Korea data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Central government debt, total (current LCU). Statizoid updates them automatically from the source API.
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About this data
Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year. Central government is the part of general government that includes all administrative departments of the national executive, legislative, and judicial functions, other central agencies and those non-market producers controlled by the central government, whose competence extends normally over the whole economic territory. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.