Published : Feb. 16, 2014 - 19:59
South Korea’s public sector debt, an index that includes both government liabilities and those of state-run enterprises, amounted to more than 800 trillion won ($770 billion) in 2012, government data showed.
National liabilities, money borrowed by central and regional governments, stood at 443.1 trillion won ($417.5 billion) as of late 2012.
The general government debt, the sum of national debt combined with liabilities of nonprofit public organizations, stood at 504.6 trillion won ($475.4 billion).
When debt held by nonfinancial pubic enterprises is included, the amount rises to 821.1 trillion won ($773.6 billion), up 67.8 trillion won from 2011. The amount is equal to 64.5 percent of the country’s gross domestic product in 2012, according to the Ministry of Strategy and Finance.