TITLE

Big Trouble In Korea ABS

AUTHOR(S)
Murra, Francesca
PUB. DATE
June 2003
SOURCE
Investment Dealers' Digest;6/9/2003, Vol. 69 Issue 23, p34
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The Korean consumer credit sector is in trouble, especially the credit-card sector, with commercial banks and card companies reporting substantial charge-offs. The combination of these charge-offs and a surge in restructuring activities has resulted in a liquidity crunch for the sector. These credit concerns, coupled with the Korean geopolitical instability and the unearthing of accounting problems at one of the largest Korean companies, SK Global Co., are leading to greater investor concern, and buy-siders consequently have begun pulling out of the Korean bond market.
ACCESSION #
10070925

 

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