Korean companies’ cash reserves swell to record high

Q: How long will it take to read this news story?

The story "Korean companies’ cash reserves swell to record high" has 651 words across 30 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Korean companies’ cash reserves swell to record high" was covered 2 weeks ago by Korea Economic Daily, a news publisher based in South Korea.

Q: How trustworthy is 'Korea Economic Daily' news outlet?

Korea Economic Daily is a fully independent (privately-owned) news outlet established in 1964 that covers mostly economy news. The outlet is headquartered in South Korea and publishes an average of 2 news stories per day. It's most recent story was published 16 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #24036110</li><li>URL: https://beamstart.com/news/korean-companies-cash-reserves-swell-1733138080455</li></ul>

Korea Economic Daily Logo Korea Economic Daily 2w ago

Korean companies’ cash reserves swell to record high - Korea Economic Daily

Quick Summary:

Cash reserves at the country’s non-financial companies swelled by 30 trillion won over the past year to a record 1,125,4 trillion won ($801 billion) in terms of M2 money supply as of the end of September, according to the Bank of Korea and the Korea Financial Investment Association (KOFIA).

A total of 39 companies, including Korean Air Lines Co., Taeyoung Engineering & Construction Co., Korea Line Corp., KG Donbgu Steel Co.and Hanil Cement Co., disclosed their plans to sell assets such as land, factory, aircraft and golf course to the regulatory Financial Supervisory Service (FSS) this year.

Interest rate cuts lowered the burden of bond sales, providing a good opportunity for companies to replenish their ammunition,” said Choi Sung-jong, an analyst at NH Investment & Securities.Refiner S-Oil Corp.and KT Corp.recently sold more bonds than planned after their new debts were six-times oversubscribed.