Korean Government Recover 71.5% of Public Funds 136.6 Billion won in 1Q 2024
NSP NEWS, By Hyun-jin Kim and Soo-in Kang
ENX7, Read 0
fullscreen(Seoul=NSP NEWS AGENCY) = By the end of March, the Korean government had collected 120.6 trillion won of public funds, 71.5% of the total.
The Financial Services Commission (FSC) announced public funds for 1Q 2024 on April 23, saying it collected 120.6 trillion won from November 1997 to March 2024. The funds invested during the same period were 168.7 trillion won. Therefore, FSC recovered 71.5% of the total by the end of last month.
FSC sold Woori Financial Group‘s remaining shares of 1.24% to recover 136.6 billion won in 1Q 2024. FSC explained, “The authorities, including the Korean government and Korea Deposit Insurance Corporation, will continue to work to recover public funds through efficient management and seamless selling of assets, including shares of financial institutions.
The Financial Services Commission (FSC) announced public funds for 1Q 2024 on April 23, saying it collected 120.6 trillion won from November 1997 to March 2024. The funds invested during the same period were 168.7 trillion won. Therefore, FSC recovered 71.5% of the total by the end of last month.
FSC sold Woori Financial Group‘s remaining shares of 1.24% to recover 136.6 billion won in 1Q 2024. FSC explained, “The authorities, including the Korean government and Korea Deposit Insurance Corporation, will continue to work to recover public funds through efficient management and seamless selling of assets, including shares of financial institutions.
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Meanwhile, the Korean government invested 168.7 trillion won, including ▲63.5 trillion won for investment, ▲18.6 trillion won for contribution, ▲30.3 trillion won for deposit payment, ▲17.8 trillion won for asset purchases, and ▲38.5 trillion won for NPL purchases during the 1997 Asian financial crisis.
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