[THE INVESTOR] The net short-term foreign liabilities of major South Korean lenders have exceeded 40 trillion won (US$34.09 billion), raising concerns about the banks’ foreign currency soundness.
According to analyst estimates, the combined foreign liabilities of the country’s six major banks that will mature in less than two years stood at 37.11 trillion won as of last week.
The total owed by all local lenders currently stands well above 40 trillion won, considering the additional 2.9 trillion won owed by Nonghyup Bank alone, the estimates showed.
The six banks include the Export-Import Bank of Korea, the Korea Development Bank, Kookmin Bank, Shinhan Bank, KEB Hana Bank and the Industrial Bank of Korea.
Of the total amounts, about 13.2 trillion won is required to be paid back by the end of this year.
(theinvestor@heraldcorp.com)