Korea has one of lowest debt-to-GDP ratios in OECD

The ratio of South Korea’s national debt to gross domestic product last year ranked 30th among 34 OECD member countries, according to CIA’s World Factbook on Sunday.

The nation’s national debt ratio last year marked 33.6 percent, which was down by 1 percent compared to the previous year. Global credit ratings agency Fitch upgraded Korea’s credibility rating a notch on Thursday from “A+” to “AA-” commenting on its financial health.

Japan was the OECD country with the highest national-debt-to-GDP ratio, marking 211.7 percent, up 11.7 percent compared to the previous year. Fitch downgraded the country’s credit rating two notches from “AA” to “A+” in May, citing the level of public debt.

By Park Min-young (claire@heraldcorp.com)