South Korea's public sector debt topped a record one-point-55 quadrillion won last year. 

The rise is attributed to a record growth in public officials' pension liabilities and an increased issuance of state bonds to fund fiscal spending.

According to an auditing report on the 2017 settlement of accounts endorsed by the Cabinet on Monday, government debt, known as D1, came to 660-point-seven trillion won in 2017, with the per capita debt reaching 12-point-84 million won.
 
Based on the consolidated financial statements, South Korea's state assets amounted to two-point-06 quadrillion won and liabilities reached one-point-55 quadrillion won last year.
 
The government will submit the auditing report to the National Assembly by the end of May after a review by the Board of Audit and Inspection.