4.115 Billion Public Funds Recovered in Q2... Recovery Rate 69.5%

Trends in Public Fund Recovery Rates Since 2015 / Financial Services Commission

[Asia Economy Reporter Kim Hyo-jin] The Financial Services Commission announced on the 16th that it recovered 411.5 billion KRW of public funds in the second quarter of this year.

The second quarter recoveries consisted of 287.7 billion KRW in deposit insurance corporation dividends from Woori Financial Group (87.2 billion KRW), SGI Seoul Guarantee (150.4 billion KRW), and Sh Suhyup Bank (50.1 billion KRW), as well as 123.7 billion KRW in government dividends from IBK Industrial Bank (75.7 billion KRW), KDB Industrial Bank (30.3 billion KRW), and Korea Eximbank (17.7 billion KRW).

Public funds were raised between 1997 and 2002 to resolve financial institution insolvencies caused by the 1997 International Monetary Fund (IMF) foreign exchange crisis.

As of the end of June, a total of 168.7 trillion KRW in public funds had been provided, with 117.2 trillion KRW recovered by the end of June. The recovery rate as of the end of June stands at 69.5%.

Trends in Public Fund Recovery Rates Since 1998 / Financial Services Commission

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