According to a March 22 report from the Korea Times, the Asian currency crisis, which caused many Korean firms to fold a decade ago, left a strong legacy that debt-to-equity ratio should be less than 100 percent. However, this debt `Maginot Line' shows clear signs of collapsing in the midst of the ongoing financial crisis. Samsung Heavy Industries saw its year-on-year debt ratio more than double from 484 percent in 2007 to 1,022 percent. Daewoo Shipbuilding & Marine Engineering also stood at a higher level in the list with 671 percent.
(Source: Korea Times)