Listed firms' cashable assets grow 9.7 pct in 2008

SEOUL, April 9 (Yonhap) -- The cashable assets of South Korean listed firms
expanded 9.7 percent in 2008 from a year earlier as they tried to boost liquidity
amid an economic slowdown, the bourse operator said Thursday.
According to the Korea Exchange (KRX), the cashable assets of 552 companies
totaled 69.13 trillion won (US$51.6 billion) as of the end of 2008, compared with
63 trillion won a year earlier.
Cashable assets cover cash, bank deposits, cash equivalents and other financial
instruments that mature within one year.
Local firms curtailed spending amid an economic downturn in an effort to secure
cash as slumping sales hurt their financial health.
The combined cashable assets of the nation's top 10 business groups surged 16.9
percent on-year to 41.86 trillion won as of the end of last year, KRX said.
pbr@yna.co.kr
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