Korean listed firms saw their debt ratios fall last year as they stepped up efforts to improve their financial status amid protracted economic uncertainties, data showed Wednesday.

The average debt ratio for 568 companies traded on Seoul’s main bourse came to 88.19 percent at the end of last year, down 4.5 percentage points from a year ago, according to data compiled by the Korea Exchange.

Their combined debt reached 578.31 trillion won ($554 billion) at the end of last year, up 0.92 percent from a year ago, while their capital base increased 6.07 percent on-year to 656.72 trillion won over the cited period, the data showed.

Also, the listed firms’ ability to repay their short-term liabilities improved last year, previous data showed.

The average current ratio for 567 listed firms came to 126.56 percent at end-December, up 5.36 percentage points from a year ago, according to the data compiled by the KRX.

The current ratio, or current assets divided by current liabilities, is a quick indicator of how well a firm can repay its short-term liabilities. A higher reading indicates a better capability to pay off the debts. (Yonhap)