The capital adequacy of financial conglomerates in South Korea improved from a year earlier in 2023 amid a sharp increase in their total equity, data showed Thursday. The average capital adequacy ratio of seven financial conglomerates stood at 193.7 percent at end-2023, up 6.1 percentage points from a year earlier, according to the data from the Financial Supervisory Service. The financial conglomerates are Samsung, Hanwha, Mirae Asset, Kyobo, Hyundai Motor, DB and DaouKiwoom. The on-year increase was attributed to a rise in the groups' combined equity, which jumped to 175.7 trillion won (US$127.1 billion) from 121.1 trillion won at end-2022. The 2023 reading reflects risk-weighted assets. When the risk-weighted assets were not reflected, the groups' capital adequacy ratio stood at 189.5 percent, up 1.9 percentage points from a year earlier. Source: Yonhap News Agency
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