By IANS,
Seoul : South Korea’s corporate bankruptcies went down last month mainly due to a decrease in defaults among manufacturers and service companies, the central bank said Wednesday.
The number of companies that went belly-up stood at 97 in September, down 6 from a month earlier, the Bank of Korea (BOK) said in a statement. The September figure came near to a record low of 96 tallied in July, reported Xinhua.
The number of manufacturers’ failures fell by 10 to 27 in September, with that of service firms dropping by 6 to 41, according to the BOK. The number of builders’ bankruptcies grew by 8 to 23 last month.
Meanwhile, the number of newly-established companies came in at 4,770 in September, down 356 from a month before.
The default rate on corporate bills, including bonds, checks and promissory notes, stood unchanged at 0.01 percent compared with the previous month.