ID :
207931
Mon, 09/19/2011 - 07:06
Auther :
Shortlink :
https://oananews.org//node/207931
The shortlink copeid
S. Korean corporate failures rebound in Aug.
SEOUL, Sept. 19 (Yonhap) -- The number of South Korean corporate bankruptcies increased in August from a record low in the previous month, the central bank said Monday, pointing to concerns about the slowing economy.
The number of companies that went belly-up totaled 103 in August, up 7 from the previous month, according to the Bank of Korea (BOK). The August corporate failure climbed from a record low of 96 tallied in July.
Meanwhile, the number of newly established companies came in at 5,126 in August, down 513 from a month before and the largest decline in six months, the bank added.
The default rate of corporate bills -- bonds, checks and promissory notes -- reached 0.01 percent last month, down from 0.02 percent the previous month, the BOK said.
The BOK upped its projection of the country's inflation rate to 4 percent this year from an earlier estimate of 3.9 percent. The bank, meanwhile, lowered its 2011 growth forecast to 4.3 percent from an earlier 4.5 percent.
The number of companies that went belly-up totaled 103 in August, up 7 from the previous month, according to the Bank of Korea (BOK). The August corporate failure climbed from a record low of 96 tallied in July.
Meanwhile, the number of newly established companies came in at 5,126 in August, down 513 from a month before and the largest decline in six months, the bank added.
The default rate of corporate bills -- bonds, checks and promissory notes -- reached 0.01 percent last month, down from 0.02 percent the previous month, the BOK said.
The BOK upped its projection of the country's inflation rate to 4 percent this year from an earlier estimate of 3.9 percent. The bank, meanwhile, lowered its 2011 growth forecast to 4.3 percent from an earlier 4.5 percent.
