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Firms’ Debt Dependency Surges in Q1 amid Coronavirus-triggered Slump

Firms’ Debt Dependency Surges in Q1 amid Coronavirus-triggered Slump

SEOUL, June 22 (Korea Bizwire) — South Korean businesses struggled to stay afloat amid new coronavirus-caused slump in the first quarter, either by borrowing more money or selling their assets to secure much-needed liquidity, a report showed Monday. According to the report from the Korea Economic Research Institute (KERI), the outstanding debt owed by 623 [...]

Radient Technologies Inc. Announces Shares for Debt Arrangements

Radient Technologies Inc. Announces Shares for Debt Arrangements

EDMONTON, Alberta, May 8 (Korea Bizwire) – Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF), a global commercial manufacturer of high quality cannabinoid-based ingredients, formulations and products, announces that it has entered into a series of shares for debt agreements with various of its creditors under the terms and conditions noted below. The [...]

Debt of Households, Self-employed Estimated to Exceed 2,000 tln Won

Debt of Households, Self-employed Estimated to Exceed 2,000 tln Won

SEOUL, Jan. 5 (Korea Bizwire) — Debt incurred by households and self-employed businesses in South Korea is estimated to surpass 2,000 trillion won (US$1,713 billion) as of September last year, according to central bank data on Sunday. Outstanding household loans came to 1,481 trillion won at the end of last September, up 13.6 trillion won [...]

Personal Bankruptcies on the Rise Among Young S. Koreans

Personal Bankruptcies on the Rise Among Young S. Koreans

SEOUL, Oct. 7 (Korea Bizwire) — Fewer South Koreans are filing for personal bankruptcy, with the notable exception of those in their 20s, the only age group for which bankruptcies are actually increasing. The Supreme Court reported to Rep. Kim Byung-wook that the number of personal bankruptcies among 20-somethings increased from 691 cases in 2015 [...]

45 pct of Household Debt Belongs to Top 20 pct of the Population

45 pct of Household Debt Belongs to Top 20 pct of the Population

SEOUL, Dec. 21 (Korea Bizwire) — New data shows that wealthy South Koreans are more indebted than ever, meaning that so called “the rich getting richer” phenomenon in household debts is becoming ever more serious. It is estimated that the top income bracket borrowed additional money to purchase real estate, but higher housing prices led [...]