National Debt (% of GDP): Korea, Republic of
Korea, Republic of's national debt (% of gdp) is currently 56.7% as of 2026. # Korea, Republic of National Debt (% of GDP) South Korea's national debt reached 56.
Current (2026)
56.7%
+6.2% y/y
Peak (2026)
56.7%
Low (1996)
7.8%
Source
IMF World Economic Outlook
1990–2026 · 41 pts
National Debt (% of GDP) — Korea, Republic of
1990 — 2026
National Debt (% of GDP) — Korea, Republic of
Analysis# Korea, Republic of National Debt (% of GDP)
South Korea's national debt reached 56.7% of GDP in 2026, marking its highest level since records began in 1990. From a low of 7.8% in 1996, the debt-to-GDP ratio has surged 343% over three decades, reflecting significant structural shifts in the economy and fiscal policy. The current level remains well below debt burdens carried by many advanced economies, yet the upward trajectory demands attention.
The sharpest acceleration occurred after 2019, when debt stood at 39.7%. A pandemic-driven spike to 45.9% in 2020 set off sustained growth: the ratio climbed through 48% in 2021, 49.8% in 2022, and 50.5% in 2023. The 2026 projection of 56.7% suggests continued expansion, with projections through 2030 indicating further increases ahead. South Korea's debt dynamics reflect aging demographics, welfare expansion, and post-pandemic fiscal commitments reshaping the nation's fiscal foundations.
Historical Data
41 Rows| Year | Value | Change % |
|---|---|---|
| 2030 | 64.3% | +2.55% |
| 2029 | 62.7% | +2.96% |
| 2028 | 60.9% | +3.40% |
| 2027 | 58.9% | +3.88% |
| 2026 | 56.7% | +6.18% |
| 2025 | 53.4% | +7.23% |
| 2024 | 49.8% | -1.39% |
| 2023 | 50.5% | +1.41% |
| 2022 | 49.8% | +3.75% |
| 2021 | 48.0% | +4.58% |
| 2020 | 45.9% | +15.62% |
| 2019 | 39.7% | +4.75% |
| 2018 | 37.9% | -0.26% |
| 2017 | 38.0% | -2.81% |
| 2016 | 39.1% | +0.77% |
| 2015 | 38.8% | +2.37% |
| 2014 | 37.9% | +5.28% |
| 2013 | 36.0% | +7.46% |
| 2012 | 33.5% | +5.68% |
| 2011 | 31.7% | +12.01% |
Show all 41 rows
| Year | Value | Change % |
|---|---|---|
| 2010 | 28.3% | -1.74% |
| 2009 | 28.8% | +11.20% |
| 2008 | 25.9% | -1.52% |
| 2007 | 26.3% | -2.59% |
| 2006 | 27.0% | +8.43% |
| 2005 | 24.9% | +15.28% |
| 2004 | 21.6% | +13.09% |
| 2003 | 19.1% | +16.46% |
| 2002 | 16.4% | -1.20% |
| 2001 | 16.6% | +3.11% |
| 2000 | 16.1% | +1.90% |
| 1999 | 15.8% | +14.49% |
| 1998 | 13.8% | +42.27% |
| 1997 | 9.7% | +24.36% |
| 1996 | 7.8% | -8.24% |
| 1995 | 8.5% | -11.46% |
| 1994 | 9.6% | -11.93% |
| 1993 | 10.9% | -6.03% |
| 1992 | 11.6% | -2.52% |
| 1991 | 11.9% | -7.03% |
| 1990 | 12.8% | — |
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