Public sector debt hits record high of $849 billionUpdated: 2014-03-19 14:47:55 (KST)
The amount of debt held by public companies in Korea has hit a record high of 908 trillion won, or nearly 850 billion U.S. dollars.
The Bank of Korea said Wednesday that the combined debt held by government offices was roughly 464 billion dollars late last year, with non-financial public enterprises racking up another 385 billion in debt.
That's a combined debt of 849 billion dollars, up 4.two percent from a year earlier.
Experts point out, however, that the rate of increase is losing pace and say the downward trend is likely to continue due to the government's recent focus on debt management in public offices.