The Bank of Korea published preliminary Public Sector Accounts for 2024, showing that the public sector ran a net lending deficit of KRW 48.9 trillion as total expenditure exceeded total revenue. Total public sector revenue (covering the general government sector, non-financial public corporations and financial public corporations) was KRW 1,150.0 trillion, up KRW 30.8 trillion (2.8%) from KRW 1,119.2 trillion a year earlier. Total expenditure was KRW 1,198.9 trillion, up KRW 30.6 trillion (2.6%) from KRW 1,168.3 trillion, with the net lending deficit broadly unchanged from the previous year’s KRW 49.1 trillion.
Bank of Korea 2025-09-23
Bank of Korea releases preliminary 2024 public sector accounts showing a KRW 48.9 trillion net lending deficit
The Bank of Korea released preliminary Public Sector Accounts for 2024, indicating a net lending deficit of KRW 48.9 trillion as expenditures surpassed revenues. Total public sector revenue increased by 2.8% to KRW 1,150.0 trillion, while total expenditure rose by 2.6% to KRW 1,198.9 trillion, maintaining a similar deficit level to the previous year.