South Korea Q3 short-term external debt burden eases

[SEOUL] South Korea's short-term external debt burden eased over the past quarter, central bank data showed on Monday, indicating a reduced vulnerability of Asia's fourth-largest economy to turmoil in global markets.

Short-term external debt fell to US$119.6 billion by the end of September from a revised US$125.2 billion at the end of June, while foreign reserves fell to US$368.1 billion from US$374.8 billion over the period, the Bank of Korea data showed.

As a result, the ratio of short-term foreign debt to reserves ticked down to 32.5 per cent from a revised 33.4 percent. Total external debt also declined to US$409.1 billion by the end of September from a revised US$423.6 billion at the end of June.

REUTERS