361 Billion Public Funds Recovered in Q1... Total 116.8 Trillion, Recovery Rate 69.3%

[Asia Economy Reporter Kim Hyo-jin] The Financial Services Commission announced on the 1st that it recovered a total of 36.1 billion KRW in public funds in the first quarter of this year.

Since 1997, out of the 168.7 trillion KRW of public funds injected, a total of 116.8 trillion KRW has been recovered up to the first quarter of this year. The recovery rate stands at 69.3%.

In the first quarter of this year, KR&C, a subsidiary of the Korea Deposit Insurance Corporation, recovered about 33.5 billion KRW worth of bankruptcy bonds. There was also a dividend receipt of 2.6 billion KRW from Hanwha Life (formerly Daehan Life).

After the 1997 International Monetary Fund (IMF) foreign exchange crisis, the government raised public funds using government-guaranteed bonds and other resources to resolve the insolvency of financial institutions.

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