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S. Korea recoups 93.8 tln won in bailout funds
SEOUL, Aug. 17 (Yonhap) -- South Korea has so far recovered more than 55 percent in total public funds spent to bail out financial companies hit by the 1997-98 Asian financial crisis, the financial watchdog said Monday.
The country retrieved 93.8 trillion won (US$75.13 billion) out of a total of 168.6 trillion won in public funds as of the end of June, according to the Financial Services Commission.
The recovery rate stood at 55.7 percent at the end of June, inching up from 55.6 percent the previous month, the watchdog said.
The South Korean government poured massive amounts of public funds into the local financial system to rescue it from corporate bankruptcies after the financial crisis erupted in 1997.
pbr@yna.co.kr
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