S. Korea’s foreign debts grow to 542.4 bln USD in 2020

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SEOUL, Feb. 19 (Xinhua) — South Korea’s foreign debts grew last year on an increase in both short-term and long-term liabilities, central bank data showed Friday.

Foreign debts amounted to 542.4 billion U.S. dollars as of the end of 2020, up 75.5 billion dollars from a year earlier, according to the Bank of Korea (BOK).

Short-term foreign liability expanded 23.0 billion dollars to 157.5 billion dollars, and long-term debt went up 52.5 billion dollars to 384.9 billion dollars.

The ratio of short-term foreign debt to foreign reserves stood at 35.5 percent at the end of 2020, up 2.6 percentage points from a year earlier.

Net external credit, or external credit minus foreign debt, came in at 478.2 billion dollars as of end-2020, down 2.4 billion dollars from a year ago. Enditem

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