Banks set to suffer from exposure to troubled shipbuilders
As the specter of bankruptcy rises for Korea’s shipbuilders, concern is growing over local banks’ exposure to the ailing sector.
According to industry sources Wednesday, local banks’ exposure to the shipbuilding sector exceeds 70 trillion won ($59.3 billion) in total, which is far larger than to shipping, another troubled sector with high default risks.
According to industry sources Wednesday, local banks’ exposure to the shipbuilding sector exceeds 70 trillion won ($59.3 billion) in total, which is far larger than to shipping, another troubled sector with high default risks.