Corporate bill default rate falls to 20-month low in Feb.

Korea’s corporate bill default rate dips in May

kh close

 

Published : 2014-06-20 19:41
Updated : 2014-06-20 19:41

The default rate of corporate bills in South Korea declined last month after hitting a six-month high in April, central bank data showed Friday.

The default rate of corporate bills ― bonds, checks and promissory notes ― reached 0.16 percent in May, down from 0.22 percent the previous month, according to the Bank of Korea.

A bank official attributed the on-month slip to a fall in dishonored bills held by Tong Yang Group, whose five affiliates applied for court receivership in September on liquidity shortages.

A fall in default bills of a company based in Gangwon Province also affected the figure as a one-off factor, he added.

The central bank data, in addition, showed that the number of companies that went bankrupt reached 61 in May, down from 69 the previous month. (Yonhap)

Photo News

‘개그콘서트’ 이연, 탄탄한 몸매+애플힙…누구?

트레이너 정아름, 환상적인 몸매 뽐내

수지, 이곳에서 이민호와 데이트? 런던 화보 공개