[July 14, 2010] [The Korea Herald]
Concerns have been growing over the financial health of local governments here following Monday’s declaration by Seongnam City of a moratorium on its debts. Seongnam, one of the wealthiest cities in the nation, became the first municipal governme
[May 10, 2010] [JoonAng Daily]
Korea’s mandatory budget spending may overtake discretionary expenditures in a few years on the back of rising fixed outlays to support an aging population and interest payments for government debt, a National Assembly report showed yesterday.
[January 21, 2010] [The Korea Times]
The country's debt reached 360 trillion won last year amid the implementation of a huge economic stimulus package. Divided among all Koreans, each citizen is an average of 7.4 million won in debt as far as the nation's debt goes.
[January 01, 1970] [ Korea JoongAng Daily]
According to the Paris-based economic organization and the National Assembly Budget Office (NABO), the loan request rejection rate stood at 40.9 percent for local firms in 2015, which is 3.7 times higher than the OECD average of 11 percent.