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KOREAN CARD FIRMS' DELINQUENCY RATE FALLS IN MARCH.

AsiaPulse News

| May 03, 2004 | COPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SEOUL, May 3 Asia Pulse - The delinquency rate at South Korea's seven credit card companies dropped nearly 3 per cent in March from the previous month thanks to their massive disposal of bad debts.

The Financial Supervisory Service said Sunday that the rate of credit card bills overdue one month and longer fell to 12.18 per cent last month from 15 per cent in February.

It was the first time in nine months that the overdue payment rate had dropped on-month.

BC Card Co. saw its delinquency rate edge up to 9.09 per cent from 8.41 per cent, while the remaining seven issuers' overdue payment ...

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