Two Securities Firms Will Fold

The Financial Supervisory Committee (FSC) decided in a regular meeting on September 25 that it would require two securities firms, Dongbang Peregrine and the Long Term Credit to suspend their operations.
The two companies' assets are less than their liabilities respectively.
FSC also decided that it would take sanctions against Hankook and Daehan property companies to cease any new operations for six months.
Hankook's debts as of now have reached 767.1 billion won, 60 times its capital of 12.8 billion won and Daehan's debts are at 639.5 billion won, 108 times its existing capital of 5.9 billion won.
Meanwhile, the FSC decided that it will mitigate the faltering finance companies' indirect tax burden when it plans to increase their capital. According to the measure, Hanil and the Commercial banks would save 588 million won.