Net incurrence of liabilities, total (current LCU) in South Korea
South Korea: Net incurrence of liabilities, total (current LCU) was 51.22 trillion current LCU in 2024. ◆ Volatile
Net incurrence of liabilities, total in South Korea, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
South Korea recorded 51.22 trillion current LCU for net incurrence of liabilities, total in 2024.
That represents a change of down 17.8% on the previous year and up 15.5% over ten years.
Over the whole period, net incurrence of liabilities, total in South Korea peaked at 129.31 trillion current LCU in 2020 and was at its lowest, -27.55 trillion current LCU, in 2003.
South Korea ranks 4th of 136 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Net incurrence of liabilities, total (current LCU) in South Korea, year by year
| Year | current LCU | Change |
|---|---|---|
| 1972 | 157.00 billion current LCU | — |
| 1973 | 74.00 billion current LCU | -52.9% |
| 1974 | 179.00 billion current LCU | +141.9% |
| 1975 | 265.00 billion current LCU | +48.0% |
| 1976 | 369.00 billion current LCU | +39.2% |
| 1977 | 390.00 billion current LCU | +5.7% |
| 1978 | 574.00 billion current LCU | +47.2% |
| 1979 | 594.00 billion current LCU | +3.5% |
| 1980 | 655.00 billion current LCU | +10.3% |
| 1981 | 1.88 trillion current LCU | +186.9% |
| 1982 | 1.85 trillion current LCU | -1.5% |
| 1983 | 1.01 trillion current LCU | -45.5% |
| 1984 | 1.03 trillion current LCU | +1.9% |
| 1985 | 636.00 billion current LCU | -38.1% |
| 1986 | 313.00 billion current LCU | -50.8% |
| 1987 | 813.00 billion current LCU | +159.7% |
| 1988 | -21.00 billion current LCU | -102.6% |
| 1989 | 12.00 billion current LCU | -157.1% |
| 1990 | 610.00 billion current LCU | +4983.3% |
| 1991 | 1.36 trillion current LCU | +123.6% |
| 1992 | 429.00 billion current LCU | -68.5% |
| 1993 | -489.00 billion current LCU | -214.0% |
| 1994 | 1.00 trillion current LCU | -304.9% |
| 1995 | -1.63 trillion current LCU | -263.1% |
| 1996 | -304.00 billion current LCU | -81.4% |
| 1997 | 5.67 trillion current LCU | -1966.4% |
| 1998 | 17.45 trillion current LCU | +207.5% |
| 1999 | 15.09 trillion current LCU | -13.5% |
| 2000 | -5.92 trillion current LCU | -139.3% |
| 2001 | -14.73 trillion current LCU | +148.7% |
| 2002 | -24.50 trillion current LCU | +66.3% |
| 2003 | -27.55 trillion current LCU | +12.5% |
| 2004 | -14.89 trillion current LCU | -46.0% |
| 2005 | -3.67 trillion current LCU | -75.4% |
| 2006 | -5.53 trillion current LCU | +50.8% |
| 2007 | -24.13 trillion current LCU | +336.7% |
| 2008 | 41.51 trillion current LCU | -272.0% |
| 2009 | 57.16 trillion current LCU | +37.7% |
| 2010 | 16.05 trillion current LCU | -71.9% |
| 2011 | 15.01 trillion current LCU | -6.5% |
| 2012 | 35.75 trillion current LCU | +138.1% |
| 2013 | 55.10 trillion current LCU | +54.1% |
| 2014 | 44.36 trillion current LCU | -19.5% |
| 2015 | 47.62 trillion current LCU | +7.4% |
| 2016 | 36.50 trillion current LCU | -23.4% |
| 2017 | 25.04 trillion current LCU | -31.4% |
| 2018 | 20.14 trillion current LCU | -19.6% |
| 2019 | 54.56 trillion current LCU | +170.9% |
| 2020 | 129.31 trillion current LCU | +137.0% |
| 2021 | 115.83 trillion current LCU | -10.4% |
| 2022 | 86.14 trillion current LCU | -25.6% |
| 2023 | 62.30 trillion current LCU | -27.7% |
| 2024 | 51.22 trillion current LCU | -17.8% |
South Korea compared with similar countries
- South Korea's 51.22 trillion current LCU is above the median for high income countries, which is 9.91 billion current LCU, 5167.6× the median. (41 countries reporting)
- South Korea's 51.22 trillion current LCU is above the median for East Asia & Pacific, which is 3.15 billion current LCU, 16280.5× the median. (24 countries reporting)
Biggest year-on-year movements
Years where Net incurrence of liabilities, total (current LCU) 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 |
|---|---|---|---|
| 1990 | +4983.3% | 12.00 billion current LCU | 610.00 billion current LCU |
| 1997 | +1966.4% | -304.00 billion current LCU | 5.67 trillion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 325.25 billion current LCU | 74.00 billion current LCU | 594.00 billion current LCU | 8 |
| 1980s | 817.40 billion current LCU | -21.00 billion current LCU | 1.88 trillion current LCU | 10 |
| 1990s | 3.92 trillion current LCU | -1.63 trillion current LCU | 17.45 trillion current LCU | 10 |
| 2000s | -2.22 trillion current LCU | -27.55 trillion current LCU | 57.16 trillion current LCU | 10 |
| 2010s | 35.01 trillion current LCU | 15.01 trillion current LCU | 55.10 trillion current LCU | 10 |
| 2020s | 88.96 trillion current LCU | 51.22 trillion current LCU | 129.31 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)
- Arms imports 222.00 million SIPRI trend indicator values (2025)
- Arms imports (SIPRI trend indicator values), per capita 19.5 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0005 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 362.84 % change on previous year (2024)
Frequently asked questions
- What is net incurrence of liabilities, total in South Korea?
- Net incurrence of liabilities, total in South Korea was 51.22 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net incurrence of liabilities, total recorded in South Korea?
- The highest recorded value was 129.31 trillion current LCU in 2020.
- What is the lowest net incurrence of liabilities, total recorded in South Korea?
- The lowest recorded value was -27.55 trillion current LCU in 2003.
- How does South Korea rank for net incurrence of liabilities, total?
- South Korea ranks 4th out of 136 countries with data for 2024.
- Is net incurrence of liabilities, total rising or falling in South Korea?
- Over the last ten years it is up 15.5%. 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 Net incurrence of liabilities, total (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 53 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. 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.