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174 SMEs in need of debt restructuring: regulator

All News 14:50 December 05, 2017

SEOUL, Dec. 5 (Yonhap) -- A total of 174 small and medium-sized enterprises (SMEs) need to carry out debt restructuring this year, the financial regulator said Tuesday.

The number of SMEs on the annual list fell slightly from last year, but firms in the sectors of auto parts and shipbuilding are still struggling due to weak markets, the Financial Supervisory Service (FSS) said in a statement.

Last year, 176 companies with debt of 50 billion won (US$46 million) or less each were placed on the list of businesses requiring restructuring efforts.

This year, the 174 firms owed a total of 1.6 trillion won from banks and other financial institutions as of the end of September, according to the statement.

The FSS unveiled the list, without identifying the names of the companies, after conducting a credit risk analysis on SMEs.

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