SEOUL, June 21 (Xinhua) -- Corporate financing in South Korea posted a double-digit decline last month, financial watchdog data showed Wednesday.
Corporate direct financing, including the sales of stocks and bonds, amounted to 14.47 trillion won (12.66 billion U.S. dollars) in May, down 27 percent from the previous month, according to Financial Supervisory Service (FSS).
Financing in the stock market, including the initial public offering (IPO) and the rights issuance, was 90 billion won, down 96.8 percent from a month earlier.
Debt financing tumbled 15.3 percent from a month earlier to 14.38 trillion won last month as sales of corporate bonds with a credit rating of AA or higher declined.
Industrial companies issued 3.25 trillion won worth of bonds in the debt financing market. Bonds issued by financial companies rose 3.6 percent to 10.49 trillion won.
The sales of asset-backed securities (ABS) plunged 74.4 percent to 632 billion won in May. (1 U.S. dollar equals to 1,144.38 South Korean Won)
