Korea recoups almost 93 tln won in bailout funds

SEOUL, Jan. 7 (Yonhap) -- South Korea has so far recovered almost 93 trillion won
(US$72.1 billion) in funds spent to rescue financial companies hit by the 1997-98
Asian financial crisis, the nation's financial watchdog said Wednesday.

South Korea had retrieved 92.9 trillion won out of a total of 168.4 trillion won
in public funds as of November 2008, according to the Financial Services
Commission.
The recovery rate stood at 55.2 percent at end-November, up from 53.4 percent at
the end of 2007, the watchdog said.
South Korea's government poured massive amounts of public funds into financial
companies to rescue them from bankruptcy after the 1997 financial crisis erupted.
sooyeon@yna.co.kr
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