S. Korea's corporate bankruptcy hit three-year high in October due to tightening financial conditions, the Bank of Korea(BOK) said Wednesday.
According to the BOK, the number of firms that went bankrupt was 321 in October, posting the highest monthly figure since March2005 when the number reached 359.
The number of start-ups, meanwhile, increased by 304 to 3,975 in October following two straight months of decline, the BOK said.
The default rate of corporate bills -- bonds, checks and promissory notes -- grew to 0.03 percent last month from 0.02 percent in September, the BOK said.
Source:Xinhua
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