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Bank Industry Risk Analysis: Korea May 03
Standard & Poors, May 2003
Abstract
In the wake of the recovery from the Asian currency crisis in the late 1990s, Korea's banking system faces a host of new challenges. These challenges include the economic slowdown accompanying the performance polarization in the corporate sector, increasing concerns over the credit profile of households, and new government reform initiatives on restructuring chaebols and the financial markets, amid the geopolitical tension with North Korea. After adopting a free-floating exchange rate system in 1998, Korea has maintained a net external creditor position since the end of 1999. The stable growth of gross domestic production (GDP), which has returned to pre-crisis levels, has enlarged Korea's system capacity to support domestic banks. Inflation has remained stable at 2%-3% for several years, but...
Companies mentioned in this report are: Korea Exchange Bank,Korea (Republic of),Shinhan Bank,Standard Chartered Bank Korea Ltd.,Shinhan Bank,Kookmin Bank,Woori Bank,Korea Deposit Insurance Corp.,Korea Exchange Bank Credit Service Co. Ltd.,Citibank Korea Inc.,Hana Bank,Woori Finance Holdings Co. Ltd.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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