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News Briefing
Korea’s External Debt Decreases to US$667.5 billion in Q1 2024
Jun 2024
Korea’s external debt amounted to $667.5 billion as of the first quarter of 2024, falling by $5.1 billion from the 
previous quarter of $672.5 billion.

Both the ratio of short-term external debt to total external debt and the ratio of short-term external debt 
to total reserves have been falling since the first quarter of last year. Short-term external debt to total external 
debt fell from 26.6% in Q1 2023 to 21.1% in Q1 2024, as did the ratio of short-term external debt to total 
reserves, which fell from 42.0% in Q1 2023 to 33.6% in Q1 2024.