Identifier depends on the legal form of the registered company, either corporate registration number(business registration number) for a company limited by shares, or personal identification number(business registration number) for a sole proprietorship.
According to the related regulation of the Korea Federation of Banks, when debtors fail to repay the principal or pay interest on financial liabilities of financial institutions (banks, credit card companies, securities companies, savings cooperatives, etc.) over a certain period of time, or fail to honor their checks or commercial bills, they are defined in accordance with the delinquency type, delinquency amount and period.
