Firms Strive to Hold 'Debt Maginot Line'

Maritime Activity Reports, Inc.

March 23, 2009

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)

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