The number of corporate bankruptcies in South Korea increased in March from the previous
month as more manufacturers, builders and service businesses went belly-up, the central bank said Friday.
The central Bank of Korea said that 216 companies went bankrupt nationwide last month, up 57 from a month earlier. The number of bankrupt service businesses rose by 24 to 91, with that of failed manufacturers increasing by 18 to 79 and that of bankrupt builders
climbing by 17 to 41.
The number of start-ups surged by 860 from the previous month to 4,932 in March.
The default rate on corporate bills -- bonds, checks and promissory notes -- fell 0.01 percentage point to 0.01 percent last month. The rate was tallied at 0.01 percent in Seoul and 0.07 percent in regional cities, the central bank said.