여기 완전 학력수준들 쩌네요ㅋㅋㅋㅋ

그렇게 잘난분들 많으니까 해석쩜 부탁합시다ㅋㅋㅋㅋ

난 안잘나서 이런거 해석못하겠으니까 우리 인간적으로

잘난사람이 안잘난사람 도움 좀 주고 그럽시다

Public firms’ debt surges

Debt held by state-run corporations reached a new record last year, government data showed yesterday.

According to the Finance Ministry, the amount owed by the nation’s 23 state-run corporations came in at 213.2 trillion won ($289 billion) in 2009. It was an increase by 36 trillion won from a year earlier, which compares with a 2.3 trillion gain in their net profits.

The average debt ratio topped 153.6 percent with a 20.4 percent increase.

“Public-sector debt, including the borrowings of state-run companies, is alarmingly unhealthy,” said Yoo Dong-woon, a professor of economics at Pukyong National University.

“Debt at state-run companies is different from borrowings of private firms, in that it affects state budget in the future if it grows large,” he said.

The borrowing surge was particularly fast at real-estate related agencies, with year-on-year debt increase of 27.8 percent. The most debt-drenched company was the Korea Land and Housing Corp. with 109.2 trillion won of debt. Its debt-to-equity ratio was 524.5 percent which by far was higher than the average of state-run real estate companies, 465.5 percent.

The transportation and energy industry’s pace of debt increase was also high with 13.8 percent and 12.7 percent each.

Analysts warn that deteriorating finances of the stat-run firms, although they are not included in official government debt calculation, could hurt Korea’s fiscal soundness, as their debt is mostly guaranteed by the government.

“The government’s argument saying its level of debt being safe doesn‘t make sense. Debt in the public firms here is different from those in other advanced economies, because the correction will come from tax eventually,” said an analyst.

State construction projects are not under the responsibilities of government agencies in advanced countries, he said.

“But the opposite is the case here and that is why remedies to reduce state deficit must take account of debt at state-run corporations,” the analyst said.

According to the International Monetary Fund, state debt excludes debt held by state-funded corporations.

Korea’s state debt stood at 359.6 trillion won in 2009. As a percentage of GDP, it is 34 percent which is much lower than the OECD average, about 90 percent.

“The state deficit has doubled in relation to GDP from 0.9 percent in 2004 to 2 percent now. Korea will be a much more aged society by 2050, and the state deficit then will be 10 percent of the total GDP,” said Kang Sung-won, a research fellow at Samsung Economic Research Institute.