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190 firms need restructuring this year: regulator

All Headlines 15:29 December 11, 2018

SEOUL, Dec. 11 (Yonhap) -- The financial watchdog said Tuesday that 190 companies need to implement restructuring measures this year, but the number of firms on the annual list declined from 2017.

The number of big companies placed on the list fell to 10 from 25 last year, the Financial Supervisory Service (FSS) said in a statement.

However, the number of small- and medium-sized firms placed on the list rose to 180 in 2018, compared with 174 last year, the FSS said.

Financial Supervisory Service (Yonhap)

The combined borrowings of the 190 firms stood at 2.3 trillion won (US$2.04 billion), according to the statement.

The FSS unveiled the list, without identifying the 190 firms by name, after conducting a credit risk analysis on companies that showed signs of financial health problems.

The FSS rated all firms in a category ranging from A to D, with A and B being considered financially healthy.

Companies that are rated C and D should be placed on debt workout program or court receivership.

kdh@yna.co.kr
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