South Korea is facing a surge in zombie companies due to higher interest rates, with a record number struggling to service their debts. Vietnamese authorities are widening a probe into a scandal-hit developer over irregularities in bond sales, shedding light on the nation's anti-corruption efforts. In response to a developer seeking debt restructuring, South Korea is reassuring investors and pledging to step up a $66 billion program to stabilize markets if needed. Surging interest rates and regulatory scrutiny are causing distress for builders and creditors in Asian economies from South Korea to Vietnam.
Surging interest rates and regulatory scrutiny are causing distress for builders and creditors in Asian economies from South Korea to Vietnam https://t.co/dF0vFMrrpC
South Korean officials pledged to step up a $66 billion program to stabilize markets if needed to limit the impact from a builder’s debt troubles https://t.co/F1S1Guli2w
South Korea moves to reassure markets as builder seeks to restructure debt https://t.co/7DNAfAGYrE https://t.co/qnihenDJ8Y
South Korea sought to reassure investors as a developer asked for its debts to be reorganized, reigniting concerns after a credit crunch last year https://t.co/D71o9wiDgV
Vietnamese authorities widened a probe into a scandal-hit developer over irregularities in bonds sale, in a case that’s cast a spotlight on the nation’s crackdown on corruption https://t.co/FCL1w0ZbQh
South Korea’s share of so-called zombie companies jumped to a record in data going back more than a decade as higher interest rates pushed more businesses beyond a key metric for servicing their debts https://t.co/3s4T9znFdQ