Q4 Public Funds Recovered 39.6 Billion Won... Recovery Rate 71.1%
[Asia Economy Reporter Yu Je-hoon] The amount of public funds recovered in the fourth quarter of last year was recorded at 39.6 billion KRW. Accordingly, the recovery rate of public funds for last year was surveyed at 71.1%.
On the 1st, the Financial Services Commission released data on the '2022 4th Quarter Public Fund Recovery Status,' stating that out of the 168.7 trillion KRW of public funds provided since November 1997, 119.9 trillion KRW has been recovered.
The 39.6 billion KRW of public funds recovered in the fourth quarter of last year consists of interest income from loans provided to KR&C, a subsidiary of the Korea Deposit Insurance Corporation, during past financial restructuring processes.
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Public funds were established after the 1997 foreign exchange crisis by the government using government-guaranteed bonds and other resources to resolve the insolvency of financial institutions. The recovery rate has maintained the 60% range since the 2010s and surpassed 70% for the first time in 2021, reaching 70.4%.
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