The International Monetary Fund (IMF) has estimated that the cost of South Korea’s corporate restructuring in the maritime and shipbuilding industries will reach 31 trillion won, or 27 billion U.S. dollars.
 
In a recent report on the benefits and costs of South Korea’s corporate restructuring, the IMF predicted that the cost will be offset by various benefits in a decade, as the debt restructuring will ultimately boost corporate investment, economic growth and employment.
 
The IMF produced the projections based on the assumption that the loss incurred by debtors will reach five-point-five to seven-point-five percent of the country’s gross domestic product (GDP), and zero-point-four percent to zero-point-nine percent of the labor force employment will be affected by the restructuring.
 
It added that the employment impact of the restructuring in the shipbuilding industry will likely be around ten-thousand people.
 
The IMF projected that if the restructuring plan proceeds successfully, South Korea’s GDP growth rate will increase by zero-point-four to zero-point-nine percentage points.