ID :
186192
Fri, 06/03/2011 - 01:01
Auther :
Shortlink :
https://oananews.org//node/186192
The shortlink copeid
S. Korea recoups over 60 pct of bailout funds
SEOUL, June 3 (Yonhap) -- South Korea has recouped 60.1 percent out of the public funds it injected to bail out ailing financial companies during the 1997-98 Asian financial crisis, the financial watchdog said Friday.
The country had retrieved 101.4 trillion won (US$93.9 billion) out of a total of 168.6 trillion won in public funds as of the end of April, according to the Financial Services Commission (FSC).
The recovery rate was up from 59.9 percent seen at the end of last year, it added.
The South Korean government poured massive amounts of public funds into local financial institutions to rescue them from bankruptcy when the financial crisis erupted in late 1997.
The country had retrieved 101.4 trillion won (US$93.9 billion) out of a total of 168.6 trillion won in public funds as of the end of April, according to the Financial Services Commission (FSC).
The recovery rate was up from 59.9 percent seen at the end of last year, it added.
The South Korean government poured massive amounts of public funds into local financial institutions to rescue them from bankruptcy when the financial crisis erupted in late 1997.
