Samsung 1998 Annual Report Download - page 49

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9. Short-Term Borrowings
Short-Term Borrowings at December 31, 1998 and 1997 consist of the following:
Annual Interest Rates(%) Thousands of Korean Won
1998 1998 1997
Bank overdraft facilities 12.21-13.18 149,188,463 52,133,534
Notes, discounted 12.16 30,000,000 191,000,000
Export financing 9.6-10.35 39,739,871 86,077,145
Usance financing LIBOR+3-5 41,682 133,472,458
Foreign currency loans LIBOR+0.7-3.26 19,443,220 94,160,903
General term loans: Commercial banks - - 755,100,931
238,413,236 1,311,944,971
Certain bank deposits and marketable securities are pledged as collateral for the above loans (see Notes 4 and 5).
10. Long-Term Debt
Long-Term Debt at December 31, 1998 and 1997 consists of the following:
Reference Thousands of Korean Won
1998 1998 1997
Won currency loans (A) 817,671,690 888,226,968
Foreign currency loans, in Won equivalent (B) 3,011,288,789 6,910,478,031
Debentures (C) 4,245,448,182 1,525,872,106
8,074,408,661 9,324,577,105
Less : current maturities (1,612,504,293) (1,230,123,566)
6,461,904,368 8,094,453,539
(A) Won currency loans at December 31, 1998 and 1997 consist of the following
Annual Interest Rates(%) Thousands of Korean Won
1998 1998 1997
Hanil Bank 5.0-10.8 76,318,252 85,024,000
Korea Development Bank 5.0-16.35 455,875,000 490,825,400
Korea Long-Term Credit Bank 6.5-13.15 199,216,828 203,340,688
Chohung Bank 11-11.15 3,698,140 11,094,420
Korea Technology Banking Corporation 6.5 21,210,327 26,589,470
Housing & Commercial Bank 9.5 1,353,143 1,352,990
Korea Merchant Banking Corporation 12.69 30,000,000 30,000,000
Korean French Banking Corporation 12.48-12.55 30,000,000 30,000,000
Asian Banking Corporation - - 10,000,000
817,671,690 888,226,968
Continued ;
NOTES TO FINANCIAL STATEMENTS
48