The combined debt of the nation's state-run companies rose to an-time high last year, with their hires of new employees on a downward spiral for the second straight year.

According to data by the Ministry of Economy and Fiance on Friday, debts at 350 public firms came to a combined 583 trillion won at the end of last year, up by 41-point-eight trillion won or seven-point-seven percent from a year earlier. 

It marks the largest jump since 2005 when the nation started compiling related data. 

Debts at Korea Electric Power Corporation saw the largest increase of 13-point-three trillion won on-year to 145-point-eight trillion won last year. 

Meanwhile, the 350 public firms hired some 27-thousand employees last year, down 12 percent from a year earlier.  

The figure decreased for the second straight year after posting growth for ten consecutive years from 2010 to 2019.