public funds-retrieval

Retrieval rate of public funds reaches 71.9 pct in June

SEOUL, July 24 (Yonhap) -- The government had retrieved 71.9 percent of public funds used to bail out troubled firms as of end-June, the financial regulator said Wednesday.

In the three months ended June 30, the country retrieved 596 billion won (US$429.6 million) in public funds injected since the 1997-98 Asian financial crisis, according to the Financial Services Commission.

The retrieval rate inched up from 71.4 percent three months earlier, with a total of 121.2 trillion won of the 167.7 trillion won used to save local businesses retrieved as of end-June.

Of the funds recouped in the second quarter, most came from dividends from bailed-out firms, the financial regulator said.

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