1/5 of conglomerates' affiliates exposed to default risks in South Korea
South Korea
seoul - Yonhap
Nearly one-fifth of affiliates belonging to South Korea's large conglomerates are struggling with impaired capital and excessive debt, placing them under financial strain, a report showed Sunday.
According to CEO Score, which examined the financial statements of 1,418 companies belonging to 47 conglomerates in 2013, one out of five affiliates had debt ratios exceeding 400 percent or were in a state of capital erosion. This translates into 279 companies having a hard time staying afloat.
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