In today’s briefing:
- Top 20 Korean Construction Companies: Off-Balance Sheet Contingent Liabilities To Drive Lower Prices
Top 20 Korean Construction Companies: Off-Balance Sheet Contingent Liabilities To Drive Lower Prices
- We argue that the top 20 listed construction companies in Korea are likely to underperform KOSPI in 2024 mainly due to the excessive risks in the housing/commercial real estate sectors.
- We expect the share prices of these 20 domestic construction companies to fall by at least 15%-20%+ on average in the next 6-12 months.
- On 2 January 2024, Financial Supervisory Service (FSS) announced that there will be new reporting requirements for PF loans of Korean construction companies starting 2023 annual reports.
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