Korean firms' direct financing up 11.2 pct in 2009

SEOUL, Jan. 20 (Yonhap) -- South Korean companies' direct financing rose 11.2
percent last year from the previous year as more firms issued stocks amid a
market rally, the financial watchdog said Wednesday.

Local companies raised 126.6 trillion won (US$111.7 billion) by floating stocks
and bonds in 2009, compared with 113.8 trillion won a year earlier, according to
the Financial Supervisory Service.
In December, their direct financing gained 28.9 percent on-month to 10.6 trillion
won, it added.
The rise in direct financing came as record-low interest rates prompted more
companies to tap the debt market last year and they issued more shares amid the
stock market's rally, the watchdog said.
Last year, stock floating jumped 128.7 percent on-year to 11.6 trillion won while
corporate debt sales reached 84.2 trillion won, up 59.6 percent from the previous
year.
sooyeon@yna.co.kr
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