Top 20 Korean Construction Companies: Off-Balance Sheet Contingent Liabilities To Drive Lower Prices
830 Views05 Jan 2024 05:29
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.
Boomeranged on Mon, 8 Jan 2024 06:15
Lotte Chemical (011170 KS)'s share price declined by 9.1% YTD. Lotte Chemical has a 44.02% stake in Lotte Construction whose PF loan balance as percentage of equity was 213% at end of 3Q 2023. There could be increasing concerns about PF related construction debt in Korea, especially after the National Assembly election in April which could further negatively impact Lotte Chemical's shares.
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