public funds-retrieval

S. Korea retrieves 71.4 pct of bailout funds

SEOUL, Oct. 30 (Yonhap) -- The government has retrieved over 70 percent of the public funds used to bail out troubled financial firms since the 1997-1998 Asian financial crisis, the financial regulator said Monday.

As of end-September, the government has been paid back 71.4 percent of the 168.7 trillion won (US$124.8 billion) in bailout funds, according to the Financial Services Commission (FSC).

The reading marks a 0.3 percentage-point increase from end-2022.

In the third quarter alone, the country retrieved 3.3 billion won, which came from dividends for Woori Financial Group shares held by the government, the FSC said.

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