Major South Korean banks are reducing the amount they are lending, following concerns over the performance of restructuring shipyards and shipowners.

The Yonhap news agency cited data from five lenders, whose portfolios involving large companies have been cut to KRW 89.59 trillion ($77.21bn) at the end of May, down KRW 1.83 trillion from the end of 2015.

Year-on-year, the figures for KEB Hana Bank, Kookmin Bank, Woori Bank, Shinhan Bank and NyonHyup Bank are down 5.3%.

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