Corporate bankruptcies fell to a record low in February as the number of construction companies who went under dropped by 15 percent from the previous month.
According to the Bank of Korea on Monday, the number of bankruptcies declined to 94 in February from 103 a month earlier as fewer builders outside the capital became insolvent. The BOK added that there was increased demand for newly built apartments in the regional real-estate markets, which could have played a role.
Meanwhile, the number of newly established businesses rose to 6,439 in February, up more than 400 from January.
