The state-run electricity and gas suppliers together spent one-point-56 trillion won, or around one-point-one billion U.S. dollars, in interest payments during the first quarter as their combined debt reached almost 250 trillion won.

According to financial statements from the Korea Electric Power Corporation(KEPCO) and the Korea Gas Corporation(KOGAS) on Sunday, KEPCO paid one-point-15 trillion won in interest, and 410 billion won by KOGAS.

The two companies' debt late last year stood at 202-point-five trillion won and 47-point-four trillion won, respectively.

The firms spent four-point-45 trillion won and one-point-68 trillion won, respectively, in interest payments last year.

The mounting debts are assessed to stem from the companies supplying electricity and gas under the cost price amid the global energy crisis that started with the outbreak of the war in Ukraine in early 2022.