[THE INVESTOR] The loan delinquency rate of large companies reached a record high in June, pushed up by STX Offshore and Shipbuilding requesting to go into court receivership.
According to the Financial Supervisory Service, large the delinquency rate reached 2.17 percent in June, the highest since 2008 when the financial authorities began compiling the data.
Compared to May, last month’s figure is 0.81 percentage points higher. The previous high was 1.97 percent recorded in 2012 when Korean industries were hit hard by the global slowdown.
Since April, the delinquency rate has been on the rise, going from 0.86 percent in April to 1.36 percent, fueling concerns about defaults, and more companies being subjected to restructuring.
The FSS is set to announce the results of the assessment of large companies’ credit ratings early this month, and industry watchers have raised the possibility that more than 30 companies will be given “C” or “D” ratings.
By Choi He-suk (
cheesuk@heraldcorp.com)
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