Public Enterprises Achieve Only 40% Recovery Rate on Overseas Resource Development Investments

[Asia Economy Reporter Jang Sehee] It has been over 10 years since public enterprises poured tens of trillions of won into overseas resource development, but it has been revealed that they have yet to recover even half of the invested amount.

According to a report received by Gu Ja-geun, a member of the National Assembly's Industry, Trade, Energy, Small and Medium Enterprises Committee from the Ministry of Trade, Industry and Energy on the 20th, the cumulative investment of public enterprises such as Korea National Oil Corporation and Korea Gas Corporation amounted to $38.88 billion by the end of last year, of which 40%, or $15.537 billion, was recovered.

Applying the recent exchange rate, about 45 trillion won was invested, and only about 19 trillion won was recovered. The recovered amount includes profits, dividends, and amounts obtained through asset sales.

During the same period, the cumulative investment of private companies was $39.109 billion, and the recovered amount was $33.03 billion, accounting for 84.5% of the investment. Meanwhile, the recovery ratio relative to the investment amount was found to be twice as high for private companies compared to public enterprises.

This content was produced with the assistance of AI translation services.