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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World S.Korean banks select 65 firms for restructuring AFP - Saturday, June 26 Send IM Story Print S.Korean banks select 65 firms for restructuring Slideshow: Full Photo Coverage: Business & Economy SEOUL (AFP) - – South Korean banks have selected 65 financially troubled firms for sweeping restructuring or liquidation, financial authorities said Friday. The firms were picked by six creditor banks which since April have reviewed the credit risk of hundreds of indebted big firms, the Financial Services Commission and Financial Supervisory Service said in a joint statement. Of the 65 selected for action, 38 will undergo a restructuring programme while the remainder face liquidation or court management, it said. The 65 include 15 construction firms, three shipbuilders and one shipping company, it said without identifying them. Creditors have about 16.7 trillion won (13.87 billion dollars) in outstanding loans to the 65 firms and will set aside about three trillion in loan loss provisions, the statement said. Such provisions will have a limited impact on the country's financial sector, it added. Recommend Send IM Story Print Related Articles Best Places In Asia To Be A Landlord Forbes - 21 minutes ago US-BUSINESS Summary Reuters - 26 minutes ago Corrected: Lawmakers agree on historic Wall St reform at dawn Reuters - 27 minutes ago Pressure mounts to dilute bank capital plan Reuters - 39 minutes ago GLOBAL MARKETS-World economy saps equities; dollar rises Reuters - 50 minutes ago News Search Top Stories Brazil, Portugal 0-0 at halftime BP shares plunge near 14-year low on liabilities Clijsters reaches Wimbledon fourth round Paws for thought: Oscar the bionic cat Amputee cat gets bionic legs More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Aussie men shoot each other in buttocks 'to see if it hurts' Swingers at risk of sexual disease: Dutch study Longest ever tennis match resumes at Wimbledon Scientists make progress in growing new human lungs Disgraced millionaire lobbyist takes pizza job More Most Viewed » Aussie men shoot each other in buttocks 'to see if it hurts' More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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