S. Korea recoups 58.3 pct of bailout fund in June

SEOUL, July 30 (Yonhap) -- South Korea has recovered 58.3 percent of the public
funds it extended to rescue financial companies in the aftermath of the 1997-98
Asian financial crisis, the financial watchdog said Friday.
The country retrieved 98.4 trillion won (US$83.1 billion) out of the total of
168.6 trillion won in public money as of the end of June, up from 98.2 trillion
won a month earlier, the Financial Services Commission (FSC) said.
The result came after South Korea recouped 215.6 billion won last month through
sales of equities and debts that the country received in exchange for rescue fund
injections.
The South Korean government injected the funds into the local financial system to
buy bad assets from troubled firms when the financial crisis erupted in late
1997.
pbr@yna.co.kr
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