SEOUL — The government has successfully retrieved 71.9 percent of public funds used to bail out troubled firms as of the end of June, the Financial Services Commission announced on Wednesday. This marks an improvement in the recovery of funds that were initially injected to stabilize businesses during the 1997-98 Asian financial crisis.
According to Yonhap News Agency, during the second quarter of this year, approximately 596 billion won ($429.6 million) was recovered, increasing the retrieval rate from 71.4 percent three months earlier. A total of 121.2 trillion won out of the 167.7 trillion won utilized to support local businesses has been recouped as of the end of June.
Most of the funds recouped in the second quarter were derived from dividends paid by the firms that were bailed out, indicating ongoing contributions to the recovery effort from these entities.