South Korea's short-term foreign debt slightly increased last year from 2013 on a rise in banks' overseas borrowing, the central bank said Thursday.

The country's short-term external debt with a maturity of one year or less totaled $115.3 billion as of the end of 2014, gaining $3.5 billion from a year earlier, according to the Bank of Korea.

Korea's total external debt stood at $425.4 billion as of the end of last year, also growing $1.9 billion from the previous year.

The ratio of short-term debt against the country's total debt reached 27.1 percent as of end-year, rising 0.7 percentage point from the end of 2013.

South Korea's short-term foreign debt was an area of concern during past financial crises as surges in foreign debt left local banks vulnerable to external shocks. (Yonhap)