S. Korean economic slump dents listed firms' financial health

SEOUL, Sept. 28 (Yonhap) -- The financial soundness of South Korean-listed companies worsened in the first half of this year from six months earlier due to the prolonged economic slump, the financial watchdog said Sunday.

As of end-June, the current ratio of 567 manufacturing companies listed on the
nation's main bourse stood at 117.93 percent, down 1.33 percentage points from
the end of December last year, according to the Financial Supervisory Service
(FSS).
The current ratio compares a firm's current assets to its current liabilities,
and measures its market liquidity and ability to meet creditor's demands over the
next 12 months.
The combined current assets of the companies stood at 284.3 trillion won (US$244
billion) as of June, up 15.5 percent from six months earlier, with their current
liabilities, which should be repaid with a year, rising 16.8 percent to 241.4
trillion won, the FSS said.
The current ratio of companies belonging to South Korea's top 10
family-controlled conglomerates amounted to 112.2 percent as of June, up 1.17
percent from six months earlier.
Kumho-Asiana Group had the highest current ratio of 155.6 percent, followed by LG
Group with 131.2 percent, Samsung Group with 123.1 percent and Hyundai-Kia
Automotive Group with 122.8 percent, it said.
(END)