Most Popular
-
1
40 flights canceled on Jeju Island due to bad weather
-
2
Pandemic left Korea more depressed than before: report
-
3
N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
-
4
Korean labor force to shrink by 10 million by 2044: report
-
5
Gov't appears to shelve punitive measures against mass walkout by doctors
-
6
[AtoZ Korean Mind] Does your job define who you are? Should it?
![[AtoZ Korean Mind] Does your job define who you are? Should it?](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/05/06/20240506050099_0.jpg&u=)
-
7
Govt. asks hospitals to mitigate impact of medical professors' absence
-
8
Doggy patrol team on the move to protect their cities
-
9
S. Korea's working-age population to dip nearly 10m by 2044 amid low births
-
10
Samsung mocks Apple over iPhone alarm glitch
![[AtoZ Korean Mind] Does your job define who you are? Should it?](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/05/06/20240506050099_0.jpg&u=)
South Korea’s top 30 conglomerates’ debts stood at nearly 1,000 trillion won ($900 billion) as they increased their borrowings in recent years to expand their businesses and to secure cash amid the economic slowdown, an online business data provider said Monday.
The debts stood at 994. 2 trillion won last year, up 28. 7 percent or 221.9 trillion won from 2009, according to Chaebol.com, which closely monitors developments of the country’s conglomerates known as chaebol.
The business data provider attributed the surge to large-scale mergers and acquisitions of local companies and increased borrowings meant to secure liquidity amid the global economic slowdown stemming from the eurozone debt crisis.
SK Telecom Co., South Korea’s top mobile carrier and the group’s flagship, has acquired Hynix Semiconductor Co., the world’s second-largest memory chipmaker. Meanwhile, Hyundai Motor Group, the world’s fifth-largest carmaker, has taken over Hyundai Engineering and Construction.
Chaebol.com said the number of affiliates of Chaebol increased to 1,165 last year, up from 983 in 2009 due to large-scale mergers and acquisitions.
Chaebol.com also said conglomerates’ average debt ratio stood at 149.6 percent last year, down from 159.2 percent in 2009.
Woongjin Group, a troubled mid-size South Korean conglomerate, has the highest increase of debt ratio among the 30 conglomerates between 2009 and 2011, according to Chaebol.com.
The business data provider said Woongjin Group borrowings stood at 4.3 trillion won last year, up from 1.5 trillion won in 2009.
Its debt ratio stood at 217.6 percent last year, up from 130 percent in 2009.
Woongjin Group’s Kukdong Engineering & Construction Co. and its holding company, Woongjin Holdings, filed for court receivership last month after the construction arm failed to repay promissory notes worth 15 billion won.
CJ Group, a South Korean food and entertainment conglomerate, has the second highest increase of debt ratio, with its debt ratio reaching 11.1 trillion won from 6.4 trillion in 2009, according to Chaebol.com.
Meanwhile, Samsung Group’s debt ratio stood at 138 percent in 2011, down from 162.3 percent in 2009, according to Chaebol.com.
(Yonhap News)
The debts stood at 994. 2 trillion won last year, up 28. 7 percent or 221.9 trillion won from 2009, according to Chaebol.com, which closely monitors developments of the country’s conglomerates known as chaebol.
The business data provider attributed the surge to large-scale mergers and acquisitions of local companies and increased borrowings meant to secure liquidity amid the global economic slowdown stemming from the eurozone debt crisis.
SK Telecom Co., South Korea’s top mobile carrier and the group’s flagship, has acquired Hynix Semiconductor Co., the world’s second-largest memory chipmaker. Meanwhile, Hyundai Motor Group, the world’s fifth-largest carmaker, has taken over Hyundai Engineering and Construction.
Chaebol.com said the number of affiliates of Chaebol increased to 1,165 last year, up from 983 in 2009 due to large-scale mergers and acquisitions.
Chaebol.com also said conglomerates’ average debt ratio stood at 149.6 percent last year, down from 159.2 percent in 2009.
Woongjin Group, a troubled mid-size South Korean conglomerate, has the highest increase of debt ratio among the 30 conglomerates between 2009 and 2011, according to Chaebol.com.
The business data provider said Woongjin Group borrowings stood at 4.3 trillion won last year, up from 1.5 trillion won in 2009.
Its debt ratio stood at 217.6 percent last year, up from 130 percent in 2009.
Woongjin Group’s Kukdong Engineering & Construction Co. and its holding company, Woongjin Holdings, filed for court receivership last month after the construction arm failed to repay promissory notes worth 15 billion won.
CJ Group, a South Korean food and entertainment conglomerate, has the second highest increase of debt ratio, with its debt ratio reaching 11.1 trillion won from 6.4 trillion in 2009, according to Chaebol.com.
Meanwhile, Samsung Group’s debt ratio stood at 138 percent in 2011, down from 162.3 percent in 2009, according to Chaebol.com.
(Yonhap News)
-
Articles by Korea Herald
