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 [...]
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 [...]
SEOUL, May 8 (Korea Bizwire) — Hyundai Motor Co. on Friday said it has doubled its debt sale to 600 billion won (US$493 million) on strong demand amid the coronavirus impact on vehicle sales. Hyundai Motor sold the debt with a maturity period of three to seven years to refinance maturing dollar-denominated debt, the company [...]
SEOUL, March 5 (Korea Bizwire) — In the fourth quarter of last year, loans extended to businesses in the service sector, mostly taken out by self-employed people, rose to the largest amount ever. This seems to be the result of small wholesale and retail companies turning to loans amid sluggish domestic demand. Outstanding loans to [...]
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 [...]
SEJONG, Dec. 24 (Korea Bizwire) — More than half of middle-aged people were indebted last year, data showed Tuesday, in the latest sign of growing household debt in South Korea. The data compiled by Statistics Korea showed that 56.1 percent of people aged between 40 and 64 borrowed money from banks or other financial institutions [...]
SEOUL, Dec. 17 (Korea Bizwire) — A recent study has revealed that many young South Koreans who are either unemployed or struggling to make ends meet face difficulties with everyday life, and often forgo meeting with friends or having proper meals. The National Human Rights Council of Korea conducted a survey of 1,000 men and [...]
SEOUL, Nov. 27 (Korea Bizwire) — Large South Korean companies’ ability to service their debts worsened sharply in the first nine months of this year due to plunging profits, a corporate tracker said Wednesday. The interest coverage ratio for 241 out of the country’s top 500 firms averaged 5.08 as of end-September, compared with 10.01 [...]
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 [...]
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 [...]