State Oil Firm Falls into Complete Capital Erosion

SEOUL, April 20 (Korea Bizwire) — The state-run Korea National Oil Corp. (KNOC) lapsed into a complete capital erosion in 2020 as its liabilities exceeded assets due to continued losses, data showed Tuesday. KNOC’s liabilities stood at 18.64 trillion won (US$16.7 billion) as of the end of last year, up nearly 514 billion won from [...]