1 Background
2 Data and research methods
2.1 Data
1987 | 1992 | 1997 | 1998 | 2002 | |
---|---|---|---|---|---|
1 | Hyundai | Hyundai | Hyundai | Hyundai | Samsung |
2 | Daewoo | Samsung | Samsung | Daewoo | LG |
3 | LG | Daewoo | Daewoo | Samsung | SK |
4 | Samsung | LG | LG | LG | Hyundai Motor Group |
5 | Hanjin | SK | SK | SK | Hanjin |
6 | Ssangyong | Hanjin | Hanjin | Hanjin | Lotte |
7 | SK | Ssangyong | Ssangyong | Ssangyong | Hyundai |
8 | Hanwha | KIA | Hanwha | Hanwha | Kumho |
9 | Lotte | Hanwha | Kumho | Kumho | Hyundai Heavy Industries Group |
10 | KIA | Lotte | Donga | Lotte | Hanwha |
11 | Daelim | Kumho | Lotte | Donga | Doosan |
12 | Donga | Daelim | Halla | Hansol | Dongbu |
13 | Hanil | Doosan | Daelim | Doosan | Hyundai Oil |
14 | Hyosung | Donga | Doosan | Daelim | Hyosung |
15 | Doosan | Hanil | Hansol | Dongkuk Steel Group | Daelim |
16 | Dongkuk Steel Group | Hyosung | Hyosung | Dongbu | Kolon |
17 | Pan Ocean Shipping | Dongkuk Steel Goup | Kohap | Halla | CJ |
18 | Kolon | Halla | Kolon | Kohap | Dongkuk Steel Group |
19 | Kumho | Tongyang | Dongkuk Steel Goup | Hyosung | Hanaro Telecom |
20 | Kukdong E and C | Kolon | Dongbu | Kolon | Hansol |
21 | Dongbu | Jinro | Anam | Tongyang | Shinsegye |
22 | Woo Sung Construction | Dongbu | Jinro | Jinro | Tongyang |
23 | Kohap | Kohap | Tongyang | Anam | Hyundai Department Store |
24 | Haitai | Kukdong E and C | Haitai | Haitai | Hyundai Development |
25 | Tongil | Woo Sung Construction | Shinho | Saehan | Youngpoong |
26 | Daesang | Haitai | Daesang | Kangwon Industry | Daesang |
27 | Taekwang | Byucksan | Newcore | Daesang | Dongwon |
28 | Kangwon Industry | Daesang | Geopyeong | CJ Cheiljedang | Taekwang Industrial Co. |
29 | Samwhan | Anam | Kangwon Industry | Shinho | KCC |
30 | Shindonga | Hanbo | Saehan | Samyang | Oriental Chemical Industries Group |
2.2 Reconstruction of FOF tables
2.3 Methodologies
3 Results
3.1 Liability portfolios of corporations
1987 | 1992 | 1997 | 1998 | 2002 | |
---|---|---|---|---|---|
Securities | 15930.9 | 52049.2 | 119552.3 | 157520.3 | 106441.8 |
Commercial papers | 2530.5 | 10040.5 | 19645.4 | 16393.8 | 2192.4 |
Corporate bonds (including current portion) | 5570.7 | 24811.2 | 71549.6 | 106803.7 | 58705.8 |
Current portion of bonds | 1181.5 | 8260.6 | 16223.9 | 23465.7 | 17380.9 |
Corporate bonds | 4389.2 | 16550.5 | 55325.7 | 83338.1 | 41324.9 |
Stocks | 7829.8 | 17197.5 | 28357.3 | 34322.8 | 45543.7 |
Loans and foreign aid | 25839.7 | 51141.4 | 147605 | 116451.4 | 38105.8 |
Loans (KRW) | 18215.2 | 35639.9 | 90371.1 | 84779.9 | 25915.2 |
Short-term loans | 9358.8 | 20458.2 | 58034.4 | 48598.1 | 10062.3 |
Long-term loans (including current portion) | 8856.3 | 15181.6 | 32336.6 | 36181.7 | 15852.9 |
Current portion of long-term loans | 984.8 | 2633.5 | 6842.5 | 8196.1 | 4301.7 |
Long-term loans | 7871.5 | 12548.1 | 25494.1 | 27985.6 | 11551.2 |
Loans (foreign currency and foreign aid) | 7624.5 | 15501.6 | 57233.9 | 31671.5 | 12190.6 |
Short-term loans | 1025.8 | 4582.1 | 19863.5 | 10733 | 7742.6 |
Long-term loans (including current portion) | 6327.5 | 10901.5 | 37370.4 | 20746.8 | 4448 |
Current portion of long-term loans | 1083.8 | 2187.3 | 6319.7 | 4666.8 | 1574.1 |
Long-term loans | 5243.7 | 8714.2 | 31050.7 | 16080 | 2873.9 |
Foreign aid | 271.2 | 18 | 0 | 191.7 | 0 |
Trade credits | 7512 | 21196.9 | 50223.5 | 42709.3 | 45004.6 |
Others | 5612.2 | 15816.3 | 34843.7 | 33720.2 | 36339.4 |
Total | 54894.9 | 140203.8 | 352224.5 | 350401.1 | 225891.6 |
1987 (%) | 1992 (%) | 1997 (%) | 1998 (%) | 2002 (%) | |
---|---|---|---|---|---|
Securities | 29.0 | 37.1 | 33.9 | 45.0 | 47.1 |
Commercial papers | 4.6 | 7.2 | 5.6 | 4.7 | 1.0 |
Corporate bonds (including current portion) | 10.1 | 17.7 | 20.3 | 30.5 | 26.0 |
Current portion of bonds | 2.2 | 5.9 | 4.6 | 6.7 | 7.7 |
Corporate bonds | 8.0 | 11.8 | 15.7 | 23.8 | 18.3 |
Stocks | 14.3 | 12.3 | 8.1 | 9.8 | 20.2 |
Loans and foreign aid | 47.1 | 36.5 | 41.9 | 33.2 | 16.9 |
Loans (KRW) | 33.2 | 25.4 | 25.7 | 24.2 | 11.5 |
Short-term loans | 17.0 | 14.6 | 16.5 | 13.9 | 4.5 |
Long-term loans (including current portion) | 16.1 | 10.8 | 9.2 | 10.3 | 7.0 |
Current portion of long-term loans | 1.8 | 1.9 | 1.9 | 2.3 | 1.9 |
Long-term loans | 14.3 | 8.9 | 7.2 | 8.0 | 5.1 |
Loans (foreign currency and foreign aid) | 13.9 | 11.1 | 16.2 | 9.0 | 5.4 |
Short-term loans | 1.9 | 3.3 | 5.6 | 3.1 | 3.4 |
Long-term loans (including current portion) | 11.5 | 7.8 | 10.6 | 5.9 | 2.0 |
Current portion of long-term loans | 2.0 | 1.6 | 1.8 | 1.3 | 0.7 |
Long-term loans | 9.6 | 6.2 | 8.8 | 4.6 | 1.3 |
Foreign aid | 0.5 | 0.0 | 0.0 | 0.1 | 0.0 |
Trade credits | 13.7 | 15.1 | 14.3 | 12.2 | 19.9 |
Others | 10.2 | 11.3 | 9.9 | 9.6 | 16.1 |
Total | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
1987 | 1992 | 1997 | 1998 | 2002 | ||||||
---|---|---|---|---|---|---|---|---|---|---|
Chaebol (%) | Others (%) |
Chaebol (%) | Others (%) |
Chaebol (%) | Others (%) |
Chaebol (%) | Others (%) |
Chaebol (%) | Others (%) | |
Bank of Korea | 2.3 | 2.8 | 2.4 | 1.7 | 2.1 | 1.3 | 1.7 | 1.4 | 0.8 | 0.5 |
Banks | 21.2 | 20.5 | 17.5 | 22.2 | 18.6 | 21.0 | 17.9 | 21.8 | 16.9 | 28.1 |
Insurance and pension funds | 5.1 | 4.8 | 6.1 | 6.9 | 4.9 | 5.6 | 5.1 | 5.6 | 7.5 | 7.5 |
Other financial institutions | 21.9 | 20.8 | 28.6 | 32.4 | 28.1 | 31.8 | 31.7 | 34.4 | 26.1 | 29.3 |
General government | 6.8 | 6.5 | 5.0 | 5.3 | 4.9 | 5.3 | 5.7 | 6.2 | 7.8 | 8.6 |
Public corporations | 2.2 | 2.4 | 1.9 | 1.2 | 1.7 | 0.9 | 1.9 | 1.1 | 3.1 | 1.5 |
Chaebol | 7.8 | 8.7 | 11.3 | 6.4 | 14.6 | 5.9 | 12.9 | 6.4 | 7.4 | 3.5 |
Other private corporations | 12.5 | 14.0 | 9.8 | 6.5 | 5.1 | 4.5 | 4.3 | 3.5 | 16.7 | 6.2 |
Individuals | 10.1 | 9.9 | 11.7 | 10.3 | 7.1 | 8.3 | 8.8 | 7.8 | 6.8 | 5.4 |
Rest of the world | 10.1 | 9.6 | 5.6 | 7.2 | 12.9 | 15.5 | 10.0 | 11.8 | 6.9 | 9.4 |
Total | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
3.2 Power-of-dispersion index and sensitivity-of-dispersion index analysis
3.3 Asset portfolios of corporations
1987 (%) | 1992 (%) | 1997 (%) | 1998 (%) | 2002 (%) | |
---|---|---|---|---|---|
Currency | 0.3 | 0.1 | 0.0 | 0.0 | 0.0 |
Deposits | 13.7 | 16.7 | 11.6 | 4.0 | 0.5 |
Securities | 18.6 | 19.4 | 19.7 | 34.2 | 54.4 |
Trade credits | 42.8 | 43.8 | 47.9 | 41.3 | 17.4 |
Loans | 1.2 | 0.2 | 0.4 | 1.3 | 6.3 |
Others | 23.4 | 19.9 | 20.4 | 19.3 | 21.3 |
Total | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
1987 (%) | 1992 (%) | 1997 (%) | 1998 (%) | 2002 (%) | |
---|---|---|---|---|---|
Bank of Korea | 2.7 | 2.5 | 1.2 | 2.4 | 4.6 |
Banks | 14.1 | 13.0 | 11.7 | 7.9 | 7.2 |
Insurance and pension funds | 1.1 | 1.3 | 1.6 | 1.8 | 3.1 |
Other financial institutions | 14.6 | 19.9 | 17.5 | 20.6 | 29.6 |
General government | 1.1 | 0.8 | 1.0 | 1.8 | 3.9 |
Public corporations | 8.1 | 6.0 | 5.5 | 6.3 | 5.4 |
Chaebol | 18.4 | 25.2 | 30.4 | 28.1 | 13.4 |
Other private corporations | 28.1 | 18.6 | 16.6 | 18.4 | 23.5 |
Individuals | 11.6 | 12.6 | 13.9 | 11.9 | 7.6 |
Rest of the world | 0.2 | 0.1 | 0.6 | 0.9 | 1.8 |
Total | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
1987 (%) | 1992 (%) | 1997 (%) | 1998 (%) | 2002 (%) | |
---|---|---|---|---|---|
Inventories | 26.6 | 22.4 | 19.2 | 14.3 | 12.1 |
Tangible assets | 72.3 | 76.9 | 80.0 | 84.6 | 82.6 |
Land | 9.0 | 12.1 | 14.2 | 19.2 | 19.9 |
Buildings, structures, construction in progress | 27.6 | 29.0 | 34.8 | 28.4 | 27.9 |
Machinery | 21.0 | 25.1 | 21.7 | 27.4 | 23.8 |
Transportation equipment | 10.0 | 6.8 | 5.2 | 5.6 | 7.0 |
Other tangible assets | 4.6 | 3.9 | 4.2 | 4.0 | 3.9 |
Intangible assets | 1.1 | 0.7 | 0.7 | 1.1 | 5.4 |
Total real as sets | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |