South Korea’s national debt is expected to surpass the 600 trillion won mark on Friday.

The National Assembly Budget Office said on Sunday that the estimated national debt stood at 595-point-one trillion won as of the end of last year, and is expected to increase 49-point-eight trillion won to reach 644-point-nine trillion won by the end of this year.

The country's debt is rapidly increasing from 113-point-one trillion won in 2001 to 238-point-eight trillion won in 2005, 402-point-eight trillion won in 2011 and 503 trillion won in 2014.

The ratio of the national debt to its gross domestic product (GDP), which is an indicator of fiscal health, also increased from 16-point-four percent in 2001 to 22-point-four percent in 2004 and 30-point-one percent in 2009.

According to the government’s long-term fiscal prospects, the debt to GDP ratio is expected to surpass 40 percent this year and the numbers are projected to rise in the coming years.