Public Institutions’ Debts Snowballing

Business Korea | Sep 18, 2019 at 1:06 AM
  • The debt of the public sector of South Korea is soaring mainly due to the South Korean government’s health insurance policy and nuclear power phase-out policy.
  • Specifically, the debt jumped from 7.9 trillion won to 13.1 trillion won from 2017 to this year and is estimated to reach 16.7 trillion won in 2023.
  • It is estimated to reach 586 trillion won in four years with the government failing in its policy and the institutions failing in efficiency and fiscal stability enhancement.