S. Korea's corporate financing posts double-digit growth in 2020

Xinhua
27 Jan 2021, 14:18 GMT+10

SEOUL, Jan. 27 (Xinhua) -- South Korea's corporate financing posted a double-digit growth last year as demand for loans mounted amid an economic fallout from the COVID-19 pandemic, financial watchdog data showed Wednesday.

The corporate financing through the sale of stocks and bonds totaled 194.48 trillion won (176.1 billion U.S. dollars) in 2020, up 10.8 percent from the previous year, according to the Financial Supervisory Service (FSS).

The equity financing, including the initial public offering (IPO) and the rights issuance, more than doubled to 10.91 trillion won (9.9 billion U.S. dollars) in 2020.

The IPO expanded in double figures, and the rights issuance more than doubled last year.

The debt financing gained 7.9 percent over the year to 183.57 trillion won (166.2 billion U.S. dollars) in 2020.

Bonds, sold by industrial companies, declined 7.2 percent to 42.06 trillion won (38.1 billion U.S. dollars), but financial institutions issued a total of 120.66 trillion won (109.2 billion U.S. dollars) in 2020, up 9.8 percent from a year earlier.

Demand increased for loans, especially from households and micro-business owners that were hit hard by economic downturn from the COVID-19 pandemic.

The issuance of asset-backed securities (ABS) advanced 39.3 percent in 2020 from the previous year.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Professional Autos.

More Information

23 ℃

T-Storm in Seletar

Business

Section

Volvo said all car purchases to be only online

GOTHENBURG, Sweden: Volvo targets to only manufacture electric cars by 2030 by significantly increasing the size of its U.S. South ...

Confident of safety measures, Apple reopens all retail stores

CUPERTINO, California: Apple announced on Monday that all 270 of its store locations in the U.S. have officially opened for ...

Zoom revenues surge in 2020 to $882.5 million as people work from home

Zoom Video Communications' fourth-quarter results trumped forecasts of moderate growth following its meteoric rise in 2020, with revenues surging 369 ...

On strength of data, Indian PM Modi takes Bharat Biotech vaccination

BENGALORE, India: The Covid vaccine manufactured by Bharat Biotech has been found to be 81 percent effective, in an analysis ...

Wall Street rescues world from stocks sell-off

NEW YORK, New York - U.S. stocks rallied on Friday following the release of positive economic data.U.S. employers added 379,000 ...

Disney+ streaming service reports 98 million subscribers

Subscriptions to Walt Disney Company's Disney+ streaming service surpassed initial estimates, primarily owing to adults from households with no children ...

Engineering

Section