April 24, 2024

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[THE INVESTOR] The delinquency rate of South Korean banks’ won-nominated loans to large companies hit a record high in September, as Hanjin Shipping was put under court receivership, government data showed on Oct. 31.

The rate rose to 2.67 percent during the month, up 0.08 percentage point from a month earlier, according to the data compiled by the Financial Supervisory Service.

It marks the highest since the related data were first complied in 2008.

“Newly delinquent loans increased, as Hanjin Shipping filed for court receivership (in August), and this contributed to the rise of the delinquency rate of loans to large companies,” the FSS said.

In May, leading shipbuilder STX Offshore & Shipbuilding was also placed under court receivership.

But the delinquency rate of loans to small and medium-sized firms and households dropped 0.14 percentage point and 0.04 percentage point on-month to 0.79 percent and 0.3 percent, respectively.

(theinvestor@heraldcorp.com)