South Korea Government Debt to GDP — 2026 Data & Trend
South Korea's government debt was 47.81% in December 2024, down from 48.55% the previous year. A year earlier it stood at 48.55%.
South Korea's government debt stands at 47.81% as of December 2024. The government debt currently sits at 47.81% (down from 48.55% in the prior year). Across the tracked window it has ranged between 6.63% and 48.55%, and is 0.74% lower than a year ago.
The trend
Among the 121 economies tracked on this platform, South Korea ranks #70 on government debt by latest value. It fell from 48.55% in the previous year, and compares with a year-earlier 48.55%.
What's driving it
The debt ratio moves with budget deficits, growth, interest costs and the currency; faster nominal growth lowers it, while wide deficits push it up.
Recent readings
| Period | Government debt |
|---|---|
| Dec 2024 | 47.81% |
| Dec 2023 | 48.55% |
| Dec 2022 | 47.61% |
| Dec 2021 | 45.83% |
| Dec 2020 | 43.78% |
| Dec 2019 | 37.70% |
| Dec 2018 | 35.52% |
| Dec 2017 | 35.45% |
Data: The World Bank — World Development Indicators (CC BY 4.0) Figures carry an effective date; confirm with the source before relying on them.
Frequently asked questions
How Much Government Debt Does South Korea Have in 2026?
South Korea's government debt was 47.81% in December 2024, down from 48.55% the previous year. A year earlier it stood at 48.55%.
Is the government debt rising or falling in South Korea?
It fell in the latest reading — 47.81% in December 2024 versus 48.55% a year earlier. Year on year it is lower.
What is government debt?
It measures total public debt expressed as a share of gross domestic product (debt-to-GDP).