GWANGJU < invest Korea

According to Yonhap News,

Default rate on promissory notes in Gwangju and Jeonnam edged down in July from the previous month.

According to the Bank of Korea Gwangju branch, the rate of defaulted promissory notes in Gwangju and Jeonnam declined slightly by 0.09% month-on-month to 0.25% in July.

The amount of defaulted notes was KRW 7.54 billion, down by KRW 1.15 billion due to a decline in bankruptcy  in the construction and service industries.

The number of bankrupt businesses dropped by 2 to 9, and the number of newly founded companies was 315. Tthe ratio of bankrupt businesses to new businesses was 52.5, up from last month's 49.3.

Source Text

Source: Yonhap News(August 18, 2011)

** This is an English translation of a Korean news article.