Damage from HRET's bankruptcy exceeds 1 tril. won

Amid growing fallout from the bankruptcy of Hankook Real Estate Trust (HRET), it was confirmed that losses to domestic construction companies and financial institutions had surpassed 1.1 trillion won.

The crisis has provoked fears of more bankruptcies among related construction companies and added pressure on financial institutions. According to related agencies and the Ministry of Construction and Transportation Monday, HRET owed large construction companies like Samsung Heavy Industries, Dong-Ah Construction Industrial, Hyundai Ind. Development and Construction and Daelim Industrial a total of 1.14 trillion won. It was forecast that these businesses would have difficulty obtaining their money if HRET officially declares bankruptcy.