ID :
197955
Fri, 07/29/2011 - 05:54
Auther :
Shortlink :
https://oananews.org//node/197955
The shortlink copeid
S. Korea recoups 60.2 pct of bailout funds
SEOUL, July 29 (Yonhap) -- South Korea has recouped 60.2 percent of the public funds used to bail out troubled financial companies during the 1997-1998 Asian financial crisis, the financial watchdog said Friday.
The country had retrieved 101.5 trillion won (US$96.5 billion) out of a total of 168.6 trillion won in public funds as of the end of June, according to the Financial Services Commission (FSC).
The recovery rate was up from 59.9 percent as of the end of last year, but stayed unchanged from 60.2 percent posted in May, the FSC said.
The South Korean government injected 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 101.5 trillion won (US$96.5 billion) out of a total of 168.6 trillion won in public funds as of the end of June, according to the Financial Services Commission (FSC).
The recovery rate was up from 59.9 percent as of the end of last year, but stayed unchanged from 60.2 percent posted in May, the FSC said.
The South Korean government injected massive amounts of public funds into local financial institutions to rescue them from bankruptcy when the financial crisis erupted in late 1997.
