Korea recoups 93.6 tln won in bailout funds

SEOUL, April 9 (Yonhap) -- South Korea has so far recovered more than 93 trillion
won (US$69.8 billion) in funds spent to rescue financial companies hit by the
1997-98 Asian financial crisis, the nation's financial watchdog said Thursday.
South Korea retrieved 93.6 trillion won out of a total of 168.5 trillion won in
public funds as of the end of February, according to the Financial Services
Commission.
The recovery rate stood at 55.5 percent at end-February, up from 55.4 percent at
the end of 2008, the watchdog said.
South Korea's government poured massive amounts of public funds into financial
companies to rescue them from bankruptcy after the 1997 financial crisis erupted.
sooyeon@yna.co.kr
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