South Korea unveils steps to quicken real estate project finance restructuring businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
(Bloomberg) South Korea is again in damage control mode, seeking to contain fallout from a construction firm’s debt woes that risk replicating replicating a recent credit crunch.Most Read from BloombergIslamic State Claims Responsibility for Deadly Iran BlastsBusiness Insider Says Ackman’s Wife Plagiarized Doctoral ThesisJust a Billion Doesn’t Cut It on This Exclusive Florida IslandHuawei Teardown Shows 5nm Chip Made in Taiwan, Not ChinaChinese Stock Indicator With 100% Success Rate Is Flashi
A massive volume of bonds issued by the Korea Electric Power Corporation (KEPCO) throughout this year has been jolting local corporate bonds market, becoming a source of stress on already strained corporate bonds and commercial paper (CP) markets in the country. According to data by the Korea Securities Depository (KSD) Thursday, KEPCO has so far issued bonds worth 23.49 trillion won ($16.57 billion) this year. The amount is already more than double of the entire size of KEPCO bonds issued last year. On average, it means the state-run electric power company has been providing two to three trillion won worth of top-notched credit bonds every month this year; this month alone, the power company has issued over 1.73 trillion won worth of bonds.