South Korea's national debt has surpassed one thousand trillion won mark for the first time in history.

According to finance ministry data released on Thursday, the central government's debt balance stood at one-thousand-one trillion won as of the end of April, up by more than 19 trillion won from a month ago.

The government predicts the debt figure to reach some one-thousand-68-point-eight trillion won by year’s end.

The country's total revenue in the first four months amounted to 245-point-nine trillion won and total expenditure 267-point-three trillion, resulting in a deficit of over 21 trillion won.

The managed fiscal balance, a clearer indicator of fiscal health, posted a deficit of nearly 38 trillion won as of late April. The deficit amount, however, shrunk by two and a half trillion won compared to a year earlier.

The ministry promised to step up monitoring of fiscal trends and continue efforts to improve sustainability in state finances.

The latest figures likely reflect the government's expansionary fiscal spending which included extra budgets drawn up to support pandemic-hit businesses.