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Nearly 70 pct of bailout funds recouped

All News 15:15 August 22, 2019

SEOUL, Aug. 22 (Yonhap) -- South Korea has recouped 69.2 percent of the public funds it spent to bail out troubled financial firms during the 1997-1998 Asian crisis, the financial regulator said Thursday.

The government has retrieved 116.8 trillion won (US$96.8 billion) out of the 168.6 trillion won in state funds spent to salvage financially shaky firms from bankruptcy as of the end of June, according to the Financial Services Commission (FSC).

The recovery rate marks a slight rise from the 68.9 percent recorded at the end of last year, the FSC said.

Nearly 70 pct of bailout funds recouped - 1

kdh@yna.co.kr
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