President Park Geun-hye said Monday her government will disclose all information about debt situations at public agencies and firms as a first step toward resolving the worsening problem.

“First of all, I will make it a principle to disclose all information about what debts at public firms and agencies rose,” she said during a weekly meeting with senior secretaries, according to presidential spokesman Yoon Chang-jung.

“If this happens, agencies will be able to work harder with a greater sense of responsibility,” she said, adding that disclosing “definite facts” first is an important basis of her government’s administrative vision.

Experts have warned that debts at public firms have increased dangerously and they that they can weigh on the state finances. (Yonhap News)