"'언더 7' 아니면 나가"…현대건설, 회사채 시장서 저금리 강요 [넘버스]

Market manipulation through captive financing is undermining price discovery in South Korea's bond market, as large conglomerates leverage group financial affiliates to force artificially low rates from underwriters. This exploits a regulatory blind spot where authorities can supervise financial institutions but lack legal authority over corporate issuers, allowing corporations to shift financing costs onto public pension funds and government savings.