금융감독원 (사진=연합뉴스)

 

[Alpha Biz=(Chicago) Reporter Paul Lee] Thirty-eight debt-ridden conglomerates, including Kakao, E-Land and Hyundai Department Store, have been designated as "main debt groups" that are subject to the financial structure assessment of the main creditor bank this year.

If selected as the main debt unit, it will receive a financial structure evaluation from the main creditor bank, and if the evaluation results are insufficient, it will sign a separate financial structure improvement agreement to check the implementation of the self-rescue plan. It's a kind of preemptive restructuring process.

The Financial Supervisory Service said on the 17th that it has selected 38 affiliates with a total borrowing of more than KRW 2.717 trillion and a balance of more than KRW 1.2094 trillion in the banking sector as its main debt unit as of the end of last year.

△ According to the banking supervision regulations, it is required to designate a group of affiliates whose total loan at the end of the previous year is more than 0.1% of the nominal gross domestic product at the end of the previous year and the credit contribution balance of the banking sector at the end of the previous year is more than 0.075% of the credit contribution balance of the entire banking sector at the end of the previous year.

This year, the number of main debt lines increased by six from last year (32). It is on the rise from 28 in 2020 to 32 in 2021 and 2022 and 38 in 2023. Seven new companies, including E-Land, Kakao, Taeyoung, Hyundai Department Store, Hanon System, DN, and LX, were newly incorporated, and Dongkuk Steel Mill, which repaid its loans due to operating surplus, was excluded.

On the other hand, Dongkuk Steel was excluded from the main debt category because it did not meet the criteria for selecting total borrowings due to repayment of borrowings due to operating surplus. As of the end of April, the number of companies affiliated with the 38 main debt lines was 6,440, up 888 companies (16.0%) from last year.

As of the end of last year, the balance of credit offerings in the banking sector to the 38 main debt sectors stood at 322.6 trillion won, up 45.5 trillion won (16.4 percent) from a year earlier. The total borrowing amounted to 609.7 trillion won, up 63.4 trillion won (11.6%) from a year earlier.

 

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