Corporate financing in Korea slips in October due to drop in debt sales

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Corporate financing in Korea slips in October due to drop in debt sales

Published: 18 Nov. 2024, 11:23

The headquarters office of Financial Services Commission located inside the government complex in Jongno District, central Seoul. [NEWS1]

Corporate direct financing in Korea fell slightly from a month earlier in October on a fall in debt sales, data showed Monday.

Local companies raised a combined 31.09 trillion won ($22.3 billion) last month by selling stocks and bonds, down 556 billion won, or 1.8 percent, from 31.64 trillion won in September, according to the data from the Financial Supervisory Service.

Stock sales rose sharply to 767 billion won last month from the previous month's 111 billion won, with share sales via initial public offerings totaling 640 billion won.

In contrast, corporate bond sales declined 3.8 percent on month, or 1.21 trillion won, last month to 30.32 trillion won.

The value of outstanding corporate bonds stood at 683.13 trillion won as of the end of October, up 10.14 trillion won from a month before.

Yonhap