South Korea recorded a Government Debt to GDP of 46.80 percent of the country's Gross Domestic Product in 2024. Government Debt to GDP in South Korea averaged 27.15 percent of GDP from 1990 until 2024, reaching an all time high of 48.00 percent of GDP in 2021 and a record low of 8.24 percent of GDP in 1996. source: Ministry of Strategy and Finance, South Korea
Government Debt to GDP in South Korea is expected to reach 48.10 percent of GDP by the end of 2025, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Government Debt to GDP is projected to trend around 49.30 percent of GDP in 2026 and 50.30 percent of GDP in 2027, according to our econometric models.