April 26, 2024

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[THE INVESTOR] The ratio of Korea’s short-term foreign debt to its foreign reserves hit the highest level in more than a year in the second quarter, central bank data showed on Aug. 24.

The country’s short-term external debt -- with a maturity of one year or less -- totaled US$117.3 billion as of the end of June, up US$1.9 billion from three months earlier, according to the data by the Bank of Korea.

The end-June figure accounted for 28.8 percent of the country‘s total external debt, the highest percentage since the third quarter of 2014, when the comparable figure was 29.1 percent, the latest data showed.

The nation’s total external liability reached $407.3 billion at the end of June, also up $1.7 billion from three months earlier.

The ratio of short-term foreign debt to its foreign reserves stood at 30.8 percent at the end of June, marking the highest since the third quarter of 2015, when the comparable figure was 31.3 percent.

By Alex Lee and newswires (alexlee@heraldcorp.com)