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Net Foreign Debt Reduced by 31.5 Billion Dollars Over Last Ten Months

Dec 02,1998
The scale of net foreign debt which Korea will have to repay has been reduced by 31.57 billion dollars over the past ten months.
Foreign reserves have been increasing due to the trade surplus and companies as well as the financial sector have been repaying their foreign debts.
The Ministry of Finance and Economy announced on December 2 that as of the end of October, Korea's foreign debt totaled 153.53 billion dollars and total overseas credit recorded 132.42 billion dollars.
The result is 21.11 billion dollars of net foreign debt.
As of late last year, the net foreign debt reached 52.68 billion dollars.


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