S. Korea recoups 94.7 tln won in bailout funds

SEOUL, Nov. 27 (Yonhap) -- South Korea has so far retrieved 56.2 percent of
public funds used to bail out financial companies during the 1997-98 Asian
financial crisis, the financial watchdog said Friday.

The country had retrieved 94.7 trillion won (US$82 billion) out of a total of
168.6 trillion won in public funds as of the end of September, according to the
Financial Services Commission (FSC). The September total was slightly up compared
to the 56.1 percent seen at the end of July, it added.
The South Korean government poured massive amounts of public funds into the local
financial system to rescue it from corporate bankruptcies when the financial
crisis erupted in 1997.
sooyeon@yna.co.kr
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