South Korea’s top 500 companies have to fulfill obligation to 37.5 trillion won ($30.8 billion) in maturing bonds this year, of which 40 percent or nearly 15 trillion won is due in the second quarter.

According to industry tracker CEO Score, 500 largest companies have 300.7 trillion won in outstanding bonds as of Dec. 31, 2019, of which 37.5 trillion won worth expire this year. The tally is based on regulatory filings from 234 companies ranked in top 500.

Of 2020-dated papers, 14.8 trillion won are due in the second quarter, 12.3 trillion won in the third quarter and 10.4 trillion won in the final three months.

The companies with debts maturing by June 30 span across 21 industries, with state-owned enterprises holding the largest 3.5 trillion won worth. It is followed by petrochemical (1.3 trillion won), shipbuilding/equipment (1.3 trillion won), credit financing (1.2 trillion won), retail (985.3 billion won), securities (710 billion won), service (650 billion won), food/beverage (628 billion won), construction/building materials (627.2 billion won), car/auto parts (582 billion won), IT/electronics (581.9 billion won), general trading (460 billion won), holding entities (450 billion won), steel (420 billion won), transportation (413.7 billion won), household goods(370.1 billion won), energy (270 billion won), pharmaceutical (140 billion won), and telecommunication (110 billion won).

By company, state-run utility firm Korea Electric Power Corp. (KEPCO) has the largest 1.4 trillion won maturing by the end of June. Another utility name Korea East-West Power Corp follows with 678.9 billion won, tagged by Doosan Heavy Industries & Construction Co. (670.2 billion won), KEB Hana Card Co. (470 billion won), Korea South-East Power Co. (427.3 billion won), Samsung Card Co. (410 billion won), NH Investment & Securities Co. (400 billion won), Lotte Capital Co. (350 billion won), and Hotel Lotte Co. (301.9 billion won).

Outside the investment-grade, Doosan Heavy I&C has the largest obligation over the next three months. Other non-financial, corporate papers expiring this year include those of SK Networks Co. (280 billion won), Hyundai Steel Co. (270 billion won), and LG Display Co. (260 billion won).

Total 130 companies out of country’s 500 largest firms have no corporate bonds maturing this year. Of them, 80 companies showed no record of issuing corporate bonds. They include Hyundai Motor Group affiliates Hyundai Mobis Co. and Hyundai Glovis Co. as well as Korea Shipbuilding & Offshore Engineering Co., and internet portal giant Naver Corp.

By Pulse

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