South Korean corporate bankruptcies decreased in April for the fourth consecutive month thanks to the government's recent stimulus packages and liquidity supply, the central bank said Tuesday.
According to the Bank of Korea (BOK), businesses that filed forbankruptcy came in at 219 last month, down four from the previous month.
The number of the country's corporate bankruptcies has shown a downward move since last December when the figure hit a near four-year high, the BOK said.
The default rate of corporate bills, including bonds, checks and promissory notes, reached 0.03 percent last month, down 0.02 percentage point from the previous month, it said.
The number of new businesses launched, on the other hand, increased by 474 to 5,038 in April, topping a 15-month high, with the ratio of start-ups to business failures hitting the highest since July 2008, the BOK added.
The government and the central bank's recent moves, such as liquidity supply, credit guarantees, and rate cuts, seem to have had positive effects on the South Korean economy, an official the BOK told local media.
Source: Xinhua
|
Comment
Tell A Friend
Print Format
Save Article