Ssangyong Motor’s loan maturity extension decision… Major economic schedule for next week
Next week, the amount of debt of households and companies, which has soared due to this year’s new coronavirus infection (Corona 19), will be disclosed.
Discussions on the third disaster support fund within the government will continue, and it will be decided whether to extend the maturity of loans to Ssangyong Motor.
Economic ministries are preparing plans to implement the economic policy direction for next year, which was announced this week.
It is a more intensive look at how to actually achieve the goal of recovering the Corona 19 crisis and transforming the leading economy.
The discussion on the 3rd disaster subsidy payment plan will also be materialized.
As the timing of payment is specified in January of next year, discussions on the target, scale, and method of support payments will be in earnest.
On the 23rd, the Korea Development Institute (KDI) released the results of an analysis of the effects of emergency disaster support payments.
It is expected that this will be a content to examine how much and in what form the first emergency disaster subsidies provided to all citizens were used.
On the same day, the National Statistical Office announces the population trend for October.
Population trends are an indicator of the birth and death of our people, marriage, and divorce.
In the third quarter, the number of births was 69,000 and the fertility rate was 0.84, a record low.
As the wedding was postponed in the aftermath of Corona 19, the number of marriages in the third quarter was also the lowest ever.
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The Bank of Korea releases the financial stability report for the second half of the 24th.
Earlier in the first half report, the debt of private sectors such as households and businesses as of the end of March exceeded twice the gross domestic product (GDP) for the first time.
As debts increased but incomes grew slowly, households’ debt to disposable income ratio (163.1%) was the highest since the first quarter of 2007, when statistics began to be compiled.
It is predicted that households and corporations’ debts would have increased even in the second half of the year due to the low interest rate and life tragedy and business difficulties caused by the aftermath of Corona 19, lingering (grabbing the soul) and debt investment (investing through loans).
The Korea Development Bank will decide on the 21st whether to extend the maturity of the loans made to Ssangyong Motors.
The KDB extended the maturity of Ssangyong Motor’s loan (90 billion won), which was in a liquidity crisis in July this year, to the 21st of this month.
Whether or not to resolve the delinquency of loans from foreign financial institutions such as JPMorgan, BNP Paribas, and Bank of America Merrill Lynch is expected to have a decisive influence on KDB’s choice.
On the 15th, Ssangyong Motor announced that it had overdue the repayment of the 60 billion won in loans from these financial institutions.
If delinquency on loans from foreign financial institutions is not resolved, there is a possibility that loans from banks and banks will also be overdue.
/yunhap news
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