zombie companies Archives | Be Korea-savvy

Over 20 pct of Chaebol Units Found to be ‘Zombie Firms’

SEOUL, Oct. 26 (Korea Bizwire) - More than 20 percent of South Korean conglomerates’ affiliates were found to be unprofitable and highly indebted last year, market data showed Monday, a revelation that comes amid the government’s push to prevent any fallout on the economy from their sudden collapse. The number of “zombie companies,” which can’t generate [...]

‘Zombie Companies’ On the Rise, Weighing on Korean Economy

SEOUL, Oct. 4 (Korea Bizwire) – A growing number of South Korean companies failed to generate enough operating profit to pay tax and interest payments on their debt, potentially raising downside risks in Asia’s fourth-largest economy, data showed Sunday. Out of 628 listed companies excluding financial firms, 34.9 percent of the companies failed to make [...]