UPDATE : 2019.9.17 TUE 10:02
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Loan delinquency rate for conglomerates falls below 2 pct in Nov.

SEOUL, Jan. 2 (Yonhap) -- The delinquency rate of domestic banks' won-denominated loans extended to large firms dropped below 2 percent in November last year, the first time in six months, partly on a court decision to resuscitate a major shipbuilder here, data showed Monday.

The delinquency rate of loans to large companies stood at 1.58 percent, down 0.99 percentage point from a month earlier, according to the Financial Supervisory Service (FSS).

The decrease came as a local court approved a rehabilitation plan by STX Offshore & Shipbuilding Co., once the nation's No. 4 shipyard. It was put under court receivership last year, succumbing to a drawn-out slump in the shipbuilding industry.

This undated file photo shows bank workers handling corporate financing. (Yonhap)

The delinquency rate surged to 2.17 percent in June last year shortly after STX was placed under court protection and stayed in the 2-percent range till October.

With the court's decision on Nov. 11 to revive the firm, some loans were redeemed, helping lower the rate.

Meanwhile, the delinquency rate of loans to small and medium-sized firms rose 0.02 percentage point to 0.85 percent on-month in November.

In case of household loans, the rate reached 0.30 percent, down 0.01 percentage point from a month ago and down 0.12 percentage point from a year ago.

"(We) will continue to monitor risk factors including the up and down of won-denominated loans by domestic banks and the possibility of vulnerable industries going insolvent," the FSS said.

Peter Joe  edt@koeapost.com

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