Bad debt mounts at South Korean banks

05/8/2013 | Yonhap News Agency (South Korea)

South Korea's drawn-out economic recovery is blamed for a 1.5 trillion won rise in bad debts at the nation's major banks, a figure estimated at 2 trillion won when smaller banks are included. In industry, shipbuilders, construction companies and shippers were hit particularly hard last year, and household loans have been jeopardized as well by a faltering housing market.

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Yonhap News Agency (South Korea)

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