S. Korean firms' cashable assets grow 13.5 pct

SEOUL, Nov. 23 (Yonhap) -- The cashable assets of South Korea's listed firms
expanded 13.5 percent in the first nine months of 2009 as they curbed spending
and investment amid a weak economy, the bourse operator said Monday.

According to the Korea Exchange (KRX), the cashable assets of 555 companies
totaled 78.8 trillion won (US$68 billion) as of the end of September, compared
with 69.4 trillion won as of end-2008.
Cashable assets cover cash, bank deposits, cash equivalents and other financial
instruments that come due within one year.
Local firms curtailed spending and delayed investment in an effort to secure
liquidity amid global economic uncertainties, the bourse operator said.
Memory chip giant Samsung Electronics Co. had 8 trillion won in cash assets, the
largest among local companies, followed by Hyundai Motor Co. with 5.7 trillion
won, the KRX said.
pbr@yna.co.kr
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