New data has projected that South Korea’s total debt this year will top six quadrillion won for the first time ever.

According to the Bank for International Settlements(BIS) on Thursday, the country’s credit to the non-financial sector stood at nearly five quadrillion-957 trillion won, or around four-point-58 billion U.S. dollars, as of the end of the second quarter.

Credit to the non-financial sector refers to the borrowing activity by the public and private non-financial sectors.

Considering that the figure is up four percent from a year ago, the nation’s total debt is likely to have surpassed six trillion won by the end of the third quarter, with related data forthcoming next year.

BIS data also found that South Korea was the only country among the 31 members of the Organization for Economic Cooperation and Development to see growth in the total debt-to-gross domestic product(GDP) ratio during a span of one year.

The nation’s debt-to-GDP stood at 273-point-one percent at the end of the second quarter, up four-point-nine percentage points from the same period last year.