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South Korean firms raise USD8bn in total in November

The Financial Supervisory Service (FSS) has reported that corporate direct financing in South Korea expanded in November, thanks to an increase in rights offering on the stock markets. Data showed that local companies raised a combined KRW10.22tr (USD8.05bn) by selling stocks and bonds last month, up 16.3% from a month earlier. Direct financing refers to raising funds directly from the stock and bond markets without borrowing from banks or other financial institutions. The on-month rise came mostly from an increase in rights offering that amounted to KRW336.3bn, about a fourfold rise from a month earlier. FSS data showed that Jeju Air, the country's largest budget carrier, raised KRW217.3bn by selling shares on the benchmark Kospi market. Corporate bond sales jumped 15.8% on-month to KRW9.61tr in November.


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