59 of 500 S. Korean companies had more interest to pay than earnings
- 5 years ago
500대 기업중 59곳, 작년에 '번 돈'보다 '이자 낼 돈' 많았다
Dozens of South Korea's top 500 companies last year owed more in interest than what they earned.
According to local industry tracker CEO Score,... at 59 of the companies, total sales last year came to 148 billion U.S. dollars - down 6 percent from a year earlier.
The interest they owed came to 170 billion dollars - down nearly five and a half percent.
Sixteen of those firms, including Samsung Heavy Industries and Dongbu Steel, have been classified as "zombie companies,"... because their interest payments outstripped earnings for three consecutive years.
Dozens of South Korea's top 500 companies last year owed more in interest than what they earned.
According to local industry tracker CEO Score,... at 59 of the companies, total sales last year came to 148 billion U.S. dollars - down 6 percent from a year earlier.
The interest they owed came to 170 billion dollars - down nearly five and a half percent.
Sixteen of those firms, including Samsung Heavy Industries and Dongbu Steel, have been classified as "zombie companies,"... because their interest payments outstripped earnings for three consecutive years.