Seoul: Corporate direct financing in South Korea soared 47 percent from a month earlier in September on the back of a sharp rise in debt sale, data showed Wednesday. Local companies raised a combined 28.69 trillion won (US$19.99 billion) last month by selling stocks and bonds, up 9.18 trillion won from a month earlier, according to the data from the Financial Supervisory Service.
According to Yonhap News Agency, stock sales dropped by 58 percent on-month to 369 billion won last month. Despite the decline in stock sales, corporate bond sales surged 52 percent, or 9.69 trillion won, reaching 28.32 trillion won.
The data further revealed that the value of outstanding corporate bonds stood at 741.89 trillion won as of the end of September. This figure marks an increase of 13.61 trillion won, or 1.9 percent, compared to the same period a year ago.