Monday, December 23rd, 2013
SEOUL, KOREA - The aggregate volume of debt incurred by major state-run enterprises has increased more than 18 trillion won during the first half of this year alone.
According to ALIO, the electronic financial disclosure system for state-run corporations run by the Ministry of Strategy and Finance on December 22, the total debt balance of the nine largest government-owned companies as of the end of June this year was 358.5 trillion won, up 5.2 percent from 340.7 trillion won recorded at the end of 2012.
The nine companies include the Korea Land and Housing Corp., Korea Electric Power Co., Korea Gas Corp., Korea Expressway Corp., Korea National Oil Co., Korea Railroad Corp., Korea Water Resources Corp., Korea Resources Corp., and Korea Coal Corp.
The total debt of these nine companies accounts for about 70 percent of all state-run enterprise debt of 499.3 trillion won. Of these, the debt of top-two companies, Land and Housing Corp. and Korea Electric Power, rose by 3.6 trillion won (2.6%) and 7.1 trillion won (7.5%), respectively, to 141.7 and 102.1 trillion won.
