An Analysis of the south Korean economy by the Pyongyang Mission of the AINDF

Recently south Korea falls into a debtor country.


A rate of the "national debt" which was 36 percent of "GDP" of south Korea in 2017, increases rapidly by 50 percent this year. Some estimates put the amount of the "national debt" at more than 900 billion US dollars in 2022.


As the amount of the "national debt" increases rapidly, the next generation is destined to shoulder a huge debt. The present "regime" of south Korea will go down to history as a "regime blown away all public finance", the people from all walks of life censure.


Owing to the rapid increase of the "national debt", crisis of the south Korean economic system is anticipated to be further aggravated.


An increasing rate of the "national debt" of south Korea is more than 10 percent in the last 2 years, which is unparalleled in the world. At this rate, the increasing rate will reach more than 66 percent in 2026.


After all, the south Korean economy could not help drifting toward bankruptcy due to the spiraling "national debt"; it might make the same mistake as Japan degraded to 3rd-class state because of its slow growth, they said.


It follows as a natural consequence of the economy of south Korea, a colonial subcontract one.


On the contrary, the south Korean authorities always say "a forward country".


However, the increase of the "national debt" reveals that south Korea is not an advanced country and its economy, too, is a bubble one.

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