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Quarter of S. Korea's top 30 conglomerates face financial troubles

All Headlines 09:39 June 04, 2017

SEOUL, June 4 (Yonhap) -- One out of four affiliates under South Korea's top 30 conglomerates is suffering from poor financial health, data showed Sunday, casting concern over the country's industries.

According to the data compiled by Chaebul.com, a local industry tracker, 324 of 1,255 affiliates under the country's top 30 business groups suffered from impaired capital or held a debt ratio hovering beyond 200 percent as of end-2016.

Of 14 affiliates under the Daewoo Shipbuilding & Marine Engineering (DSME) group, one of them was under impaired capital while six others had alarming debt numbers. This shows that about half of the affiliates under the DSME are facing financial tumble.

Kumho Asiana Group also reported 12 of its 28 affiliates with debt ratios beyond 200 percent.

South Korea's No. 1 family-controlled Samsung Group was relatively healthy among other rivals, with only 9.7 percent of its affiliates facing any kind of financial troubles.

None of the affiliates under the S-Oil Group and the KT&G Group suffered from a cash crunch, the data also showed.

Quarter of S. Korea's top 30 conglomerates face financial troubles - 1

colin@yna.co.kr
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