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South Korea's corporate defaults fall

South Korea,Business/Economy, Thu, 19 Apr 2012 IANS

Seoul, April 19 (IANS) South Korea's corporate bankruptcies fell to an all-time low last month, the central bank said Thursday.


The number of companies that went belly-up stood at 90 in March, down 4 from a month earlier, according to the Bank of Korea (BOK). The March figure was the lowest since the bank began compiling the data in January 1990, reported Xinhua.


The number of newly established firms was 6,604 in March, up 165 from a month before, according to the BOK. The ratio of startups against the bankrupt companies slid to 98.6 in March from 102.2 in February.


The default rate on corporate bills, including bonds, checks and promissory notes, stood at 0.01 percent last month, unchanged from a month earlier.


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