World Economy

S. Korea Debt Rises

S. Korea Debt RisesS. Korea Debt Rises

South Korea’s national debt rose to 34.3% of its gross domestic product (GDP) last year, a government report said Tuesday, Xinhua reported. Debts owed by central and provincial governments reached 489.8 trillion won ($470b) as of end-2013, or 34.3% of the GDP, up 46.6 trillion won ($44.7b) from a year earlier, according to the Finance Ministry.