The combined debt of South Korean public firms and institutions is expected to hit 524 trillion won (US$502 billion) next year, the finance ministry said Sunday, amid government efforts to reduce their liabilities.
The forecast is 3 trillion won smaller than an earlier government estimate this year, with the debt ratio likely to come in at 214 percent in 2015, according to the ministry's 2014-2018 financial management plan for them, which will be submitted to the National Assembly on Monday.