Number of Korean builders reporting operating losses rises
Korean builders
Seoul - Yonhap
The number of South Korean builders reporting operating losses in the second quarter rose compared to the previous three-month period, raising concerns that the construction industry as a whole may face tough times in 2014, industry-wide data showed Thursday.
According to consulting agency Korea Ratings, the earnings before interest and taxes (EBIT) of 21 local builders that had an investment-grade status better than BBB dropped 56 percent vis-a-vis the first quarter.
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