COPYRIGHT 2000 BY WORLDSOURCES INC.,
A JOINT VENTURE OF eMediaMillWorks, Inc. (f/k/a Federal Document Clearing House, Inc.), AND WORLD TIMES, INC.
COPYRIGHT 2000 BUSINESS KOREA ALL RIGHTS RESERVED AS DISTRIBUTED BY WORLDSOURCES, INC.
Emerging Markets Datafile
BUSINESS KOREA
June
13, 2000, Tuesday
HEADLINE:
Banking Sector Likely To See Additional
Insolvencies
Worth 2-3 Trln.
Under the forward looking criteria, the new asset classification criteria applied to the domestic banking sector, it is now expected that banks will see an additional 2-3 trillion won worth of defaults in 2000.
The Financial Supervisory Commission (FSC) said on Monday that it valued the potential defaults of domestic provincial, commercial and state- run banks, and reported the results on Saturday through the Financial Supervisory Service (FSS).
Provincial banks saw an additional 20-80 billion won worth of
insolvencies,
while commercial banks saw 200-400 billion worth of additional
insolvencies
under the new, stricter asset evaluation policies, the FSC said.