S. Korea recoups 93.8 tln won in bailout funds

SEOUL, July 16 (Yonhap) -- South Korea has so far recovered almost 94 trillion
won (US$73.6 billion) in funds spent to rescue financial companies hit by the
1997-98 Asian financial crisis, the financial watchdog said Thursday.
South Korea has retrieved 93.8 trillion won out of a total of 168.6 trillion won
in public funds as of the end of May, according to the Financial Services
Commission.
The recovery rate stood at 55.6 percent at end-May, up from 55.4 percent at the
end of 2008, the watchdog said.
The South Korean government poured massive amounts of public funds into financial
companies to rescue them from bankruptcy after the 1997 financial crisis erupted.
sooyeon@yna.co.kr
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