South Korea October Default Ratio Rises to 4-Month High

South Korea’s overall debt default ratio rose to a four-month high in October while the ratio of business start-ups against failures tumbled to a near 4-year low, central bank data showed on Wednesday, Forbes reported. The debt default ratio, which represents the percentage of defaults against total commercial debt and corporate bonds issued from settlement, rose to 0.03 percent in October from September's 0.02 percent, Bank of Korea data showed. The central bank said separately South Korea's business start-up/failure ratio in October plunged to 18.8, the lowest since touching 14.9 in December 2004, from 26.2 in September. A total of 211 companies, mostly in the construction and service sectors, defaulted on their debt obligations in October, up from 140 in September. Read more.