The borrowings are classified as short-term borrowings if they need to be repaid within 12 months (12 months included) of the balance sheet date, and the others are classified as long-term borrowings.

于资产负债表日起12个月(含12个月)内偿还的借款为短期借款，其余借款为长期借款。

youdao

The country has for too long relied too much on short-term borrowings.

ECONOMIST: South Korea��s meltdown