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S. Korea to name companies with credit risk in July

All Headlines 10:26 March 09, 2016

SEOUL, March 9 (Yonhap) -- South Korea's financial regulator said Wednesday it will announce a set of ill-performing companies in July after conducting a credit risk analysis on businesses that carry a debt of over 50 billion won (US$41 million) owed to banks.

Last year, the Financial Services Commission (FSC) found 54 companies out of 1,900 subjected to the credit analysis that failed to meet the requirements in business performance, cash flow and other conditions. The 54 were ordered to go under a debt-rescheduling program or court receivership, the FSC said in a statement.

"This year, we will apply stricter standards to sort out more financially troubled companies. In the strengthened analysis, we will also select companies that suffer from capital erosion and whose businesses are on the decline," an FSC official said.

As for small-and medium-sized companies, the FSC plans to release the results in November.

kyongae.choi@yna.co.kr
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