Published : Aug. 8, 2016 - 18:06
Thirty-two South Korean businesses are in need of corporate rehabilitation, according to the Financial Supervisory Service on Sunday.
The financially troubled companies were chosen among 602 companies scrutinized by the FSS on their credit risks out of 1,973 local firms with over 50 billion won ($45 million) debt.
The FSS rated the 602 firms from A to D, with A and B considered financially healthy while C and D are ill. Among the selected 32 this year, 13 received a C, while the remaining 19 got a D.
The D-rated companies included five shipbuilders, three construction firms, five electronics makers, one shipping firm and one petrochemical manufacturer. Hanjin Shipping and Hyundai Merchant Marine were put in the C category.
The combined borrowings by the 32 C- and D-rated companies stood at 19.5 trillion won ($17.4 billion), up 12.4 trillion won from a year earlier.