Home

The Korea Herald

Latest news

Most Popular

  1. 1

    [Exclusive] Korean military set to ban iPhones over 'security' concerns

    [Exclusive] Korean military set to ban iPhones over 'security' concerns
  2. 2

    [AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not

    [AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
  3. 3

    Yoon seeks rebound, taps 5-term lawmaker as chief of staff

    Yoon seeks rebound, taps 5-term lawmaker as chief of staff
  4. 4

    Korean, Romanian leaders discuss defense tech, nuclear energy

    Korean, Romanian leaders discuss defense tech, nuclear energy
  5. 5

    N. Korea sends economic delegation to Iran amid suspected military cooperation

    N. Korea sends economic delegation to Iran amid suspected military cooperation
  1. 6

    [Graphic News] 77% of young Koreans still financially dependent

    [Graphic News] 77% of young Koreans still financially dependent
  2. 7

    [Herald Interview] Why Toss invited hackers to penetrate its system

    [Herald Interview] Why Toss invited hackers to penetrate its system
  3. 8

    S. Korea calls on Japan to confront history amid Yasukuni Shrine visit

    S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
  4. 9

    S. Korean envoys convene to navigate strategy amid Middle East tensions

    S. Korean envoys convene to navigate strategy amid Middle East tensions
  5. 10

    Yoon’s jailed mother-in-law excluded from latest parole list

    Yoon’s jailed mother-in-law excluded from latest parole list
소아쌤

Loss-making public institutions post 10 tln won deficit

By Yonhap

Published : March 24, 2018 - 15:37

    • Link copied

South Korea's loss-making public institutions posted a combined deficit of nearly 10 trillion won ($9.3 billion) over the past five years, due mainly to unprofitable overseas energy-development projects, a parliamentary report showed Saturday.

(Yonhap) (Yonhap)

According to the report by the National Assembly Budget Office, 13 firms, including the Korea National Oil Corp, the Korea Coal Corp., and the Korea International Broadcasting Foundation, were in the red between 2012 and 2016.

Their combined losses reached 9.7 trillion won during the cited period.

The KNOC logged a deficit of 8.8 trillion won, accounting for 92.1 percent of the total, while the KCC suffered losses of 395.2 billion won, or 4.1 percent.

Such public energy-development firms have been subject to government-led restructuring programs as their previous investments into overseas resource projects were hit hard by years of low oil prices.

More from Headlines