http://www.bloomberg.com/apps/news?pid=206...&refer=asia

South Korea's Overseas Debt Rises to a Record $412.5 Billion

By William Sim

June 15 (Bloomberg) -- South Korea's overseas debt expanded for a 14th straight quarter to a record on borrowing by local banks and companies.

Foreign debt climbed to $412.5 billion at the end of the first quarter from $382.2 billion three months earlier, the central bank said in Seoul today. Debt maturing within a year made up 52.3 percent of total overseas loans.

The economy came close to collapsing during the Asian financial crisis a decade ago partly because of a surge in short-term overseas debt that exceeded the country's foreign reserves. Standard & Poor's said in October that increasing foreign borrowing by financial companies puts ``downward pressure'' on South Korea's credit rating.

Short-term debt rose by $16.2 billion to $176.5 billion in the quarter, while long-term debt increased by $14.1 billion to $236 billion, today's report showed.

Borrowing by local and overseas branches of South Korean banks expanded by $20.3 billion to $214.4 billion. The government's foreign debt climbed by $820 million to $32.8 billion, the central bank said.

Last Updated: June 14, 2008 23:00 EDT

Is this even relevant when America is in dept in trillions.

Only for you Americans. I've posted the reports on both nations already today, while you were sleeping.

Beronis why u make three threads about the same topic.S Korea has many money.S Korea can give back debt even if it is deja vu 1997 or 1998 or whatever.

No. SK's debts are as much as their reserves. Do you understand what net debtor mean?

Too bad I ain't American. I'm made in Korea.

Look at how the moron expresses himself. He's not even aware of the lack of coherence in his post.

Name calling are we? Get your military out of my country!

Now we're making progress. I knew your position would evolve with gentle prodding.

Cave dweller.

I don't know what mean net debtor.So does it mean the S Korean won will go down the drain again?

There is always a possibility.

If S Korean won goes down the drain very bad for S Korea but I think S Korea has lots of rice and ramyon so S Koreans can survive some time.

We have more than just ramyun and rice. We have hallyu and influx of Asian women at our command.

Hallyu? What is that? Oh yeah..I think one of my friends told me that it's some sort of Korean gay pride movement found in really hot spot countries like Vietnam and Cambodia. Holy $hit! Watch out for the Korean wave...look at how its dominating the Vietnamese and Cambodian markets! As you know, Vietnam and Cambodia are the top entertainment markets in the world from which everyone measures success! LOL.

Asian women? Oh yeah...you mean like the ones whom you people import as slaves from Vietnam but end up getting beaten to death by their Korean husbands?

Vietnamese brides abused by Korean husbands

Korean murders Vietnamese bride

Don't get jealous Korean entertainment is far superior and more popular than Hollywood in Asian market which is much bigger than America and Europe combined.

$412.5 billion debt is not so bad for Korea, at least all these debtors won't let SK be attack from commies.
Also; most SK's debt is due to heavy spending on transportation infrastructures, energy development and military - which is good considering most of debt is actually benefiting Korea's future.

SK's economy is around $1 trillion dollar and IMF rated SK's economy will grow by 4.2% this year despite the gloomy outlook of US & China's economy due to high oil price and high inflation.

Despite all this; SK is actually net donor comparing to China.

vietnam and korea together will oppose chinese expansion. no matter what you say.

Imo, South Korean nationalism will prevent any temporary or permanent alliance with Vietnam or anyone else. Where does that leave the ROK? Alone.

quite a few countries oppose chinese expansion actually.

too many to name.

either way, well, maybe if u are a good boy, u won't be chinese in the next life. stay positive ~

We just don't like pigs. We like other Asians though.

Do other Asians reciprocate Korea's affection?

On a serious note Down, you've been the victim of White racism during your stay in America and have been consumed by it. Don't let it destroy you.

oink oink oink.

Stop being the White man's pawn. Keep being the White man's foil.

Actually Korea was pro-China and was likely to join China pack until China gave it away.
So both Koreas is actually anti-China now; Koreans are likely to join with Mongolia, Vietnam and Japan to oppose growing threats from China.

Currently US is only strong ally that both SK & JPN have at the moment; but soon both SK & JPN won't be needing US by their side. There is high possibility that both SK & JPN will forget the differences and join forces because of growing threats from China, Russia and USA.

China, Russia and USA are currently the most dangerous states in the world; three nations are probably are most hated because of their military power, population, and control of world's natural resources.

Russia and USA are now untouchable for Korea and Japan; but when Korea-Japan joins their forces and heads it will become another force that recon with.

Next century will be between: EU, Russia, China, India, USA and Kor-Jpn

The main issue here is it's up to Korea to decide with side to join; who ever gets Korea first will be the winner.
Japan was able to over run rest of asia by gaining Korean peninsula under their control.

China did this before; when Korea was their little bro; China was the major power.

why? because according to Korean nationalists; Korea is center of the world's power. At first I laugh at this, but now after observing all the previous power struggles in pacific, Korea is indeed the key for ultimate power.

Stop being a pig. Keep being Korean's N*gga.

Very funny.

Very very funny.

Sigh, Korea's regional influence is still minimal, there is a fine line between healthy nationalism and unreasonable ultra-nationalism.

I am not denying that South Korea is an important part of the fabric of the international political landscape (but then again, so is all the other countries in the world); but to say that the Koreans will be the de facto deciding factor to "ultimate power" is just ignorant and irrationality at its best.