Banks Put Bailout Cash Straight Back into BOK Korean Banks Recovering Pre-Crisis Financial Soundness Experts Predict Tense Christmas for the Economy BOK to Supply Up to W5 Trillion for Bond Fund Gov't in Fresh Bid to Make Banks Lend More Moody's Mulls Downgrading 10 Korean Banks Gov't Gets Tough on Banks W20 Trillion Promised to Bolster Banks Developed Status 'Could Hurt Korean Bourse'

Research on 559 listed companies on the Korea Exchange shows that as of the end of September the total amount of cash-related assets they held was W71 trillion (US$1=W1,513), up W9.18 trillion or 15 percent from a year ago. Cash-related assets include both cash and checks or short-term financial products that mature in less than a year. Korea’s top 10 conglomerates held a total of W43.11 trillion in cash-related assets, up 29 percent compared to the end of 2007.

Topping the list was Samsung Electronics with W7.69 trillion, up 2.61 percent from a year ago. Next were Hyundai Motor (W4.52 trillion) and Hyundai Heavy Industries (W3.99 trillion). Korea Express saw the greatest increase in cash-related assets, up W3.31 trillion or 11,322 percent from the end of last year.

But the amount of short-term debt also increased. According to data unveiled on Monday by chaebul.com, which specializes in information on Korea’s big conglomerates, the 164 listed subsidiaries of the top 30 conglomerates saw their short-term debt rise 75 percent from a year ago to W29 trillion as of the end of September.

Short-term debt is borrowings whose interest and principal must be repaid within a year. With the surge in debt, the average debt-to-equity ratio of the 30 top business conglomerates rose to 108 percent this year, compared to 90 percent in 2007.

(englishnews@chosun.com )