In 2022, the debts of local governments in South Korea amounted to roughly 38.3 trillion South Korean won. Local government debt has been declining steadily over the past decade but has increased since 2020 due to the COVID-19 pandemic.
Debts of local governments in South Korea from 1997 to 2022
(in trillion South Korean won)
Local governments in South Korea include high-level local governments (one special metropolitan city, six metropolitan cities, eight provinces, one special self-governing province, and one special self-governing city) and 228 low-level local governments consisting of cities, counties, and districts.
Figures have been rounded.
1,000 South Korean won equals 0.68 U.S. dollars or 0.67 euros as of February 2025.
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Statistics Korea. (November 15, 2024). Debts of local governments in South Korea from 1997 to 2022 (in trillion South Korean won) [Graph]. In Statista. Retrieved March 15, 2025, from https://www.statista.com/statistics/1227929/south-korea-local-governments-debts/?__sso_cookie_checker=failed
Statistics Korea. "Debts of local governments in South Korea from 1997 to 2022 (in trillion South Korean won)." Chart. November 15, 2024. Statista. Accessed March 15, 2025. https://www.statista.com/statistics/1227929/south-korea-local-governments-debts/?__sso_cookie_checker=failed
Statistics Korea. (2024). Debts of local governments in South Korea from 1997 to 2022 (in trillion South Korean won). Statista. Statista Inc.. Accessed: March 15, 2025. https://www.statista.com/statistics/1227929/south-korea-local-governments-debts/?__sso_cookie_checker=failed
Statistics Korea. "Debts of Local Governments in South Korea from 1997 to 2022 (in Trillion South Korean Won)." Statista, Statista Inc., 15 Nov 2024, https://www.statista.com/statistics/1227929/south-korea-local-governments-debts/?__sso_cookie_checker=failed
Statistics Korea, Debts of local governments in South Korea from 1997 to 2022 (in trillion South Korean won) Statista, https://www.statista.com/statistics/1227929/south-korea-local-governments-debts/?__sso_cookie_checker=failed (last visited March 15, 2025)
Debts of local governments in South Korea from 1997 to 2022 (in trillion South Korean won) [Graph], Statistics Korea, November 15, 2024. [Online]. Available: https://www.statista.com/statistics/1227929/south-korea-local-governments-debts/?__sso_cookie_checker=failed
