ID :
31126
Wed, 11/19/2008 - 18:38
Auther :
Shortlink :
https://www.oananews.org//node/31126
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S. Korea`s biz failures hit 3-year high in October
SEOUL, Nov. 19 (Yonhap) -- South Korea's corporate bankruptcies hit a three-year high in October as more manufacturers and service firms became insolvent amid tightening financial conditions, the central bank said Wednesday.
The number of business failures came to 321 last month, up 118 from the previous
month and the highest monthly figure since March 2005 when the number reached
359, according to the Bank of Korea (BOK).
The number of start-ups, meanwhile, increased by 304 to 3,975 in October
following two straight months of decline, according the bank.
The default rate of corporate bills -- bonds, checks and promissory notes -- also
grew to 0.03 percent last month from 0.02 percent in September, the BOK said.
pbr@yna.co.kr
(END)
The number of business failures came to 321 last month, up 118 from the previous
month and the highest monthly figure since March 2005 when the number reached
359, according to the Bank of Korea (BOK).
The number of start-ups, meanwhile, increased by 304 to 3,975 in October
following two straight months of decline, according the bank.
The default rate of corporate bills -- bonds, checks and promissory notes -- also
grew to 0.03 percent last month from 0.02 percent in September, the BOK said.
pbr@yna.co.kr
(END)
