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[Alpha Biz=(Chicago) Reporter Paul Lee] Domestic builders' bank debt rose nearly KRW 5 trillion a year alone, reaching nearly KRW 43 trillion, the report showed. It is the largest in 14 years since the global financial crisis.
Tensions seem to be growing further as the construction industry's pain, which was mired in a crisis of insolvency in real estate project financing (PF) due to massive unsold sales at the time, shows signs of a recurrence recently.
According to the Financial Supervisory Service on the 18th, the balance of loans paid by 20 domestic banks to construction companies as of the end of the third quarter of last year totaled 42.7963 trillion won, up 13.1% (4.9431 trillion won) from the same period last year. This is the largest amount since late September 2009, when the aftermath of the global financial crisis was in full swing.
By bank, IBK Industrial Bank of Korea's loans to construction companies reached KRW 8.2088 trillion, up 6.9% from the same period. Next, Hana Bank was 6.1418 trillion won and NH Nonghyup Bank was 5.377 trillion won, up 50.2% and 8.5%, respectively.
In addition, ▲KB Kookmin Bank (3.9678 trillion won), ▲Woori Bank (3.7119 trillion won), Shinhan Bank (3.4789 trillion won), KDB Development Bank (2.4133 trillion won), ▲BNK Busan Bank (2.1059 trillion won), DGB Daegu Bank (2.24 trillion won), and SH Suhyup Bank (1.74 trillion won) were listed in the top 10 banks in terms of loans for construction companies.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
