Retrieval rate of public funds reaches 71.9 pct in June

The government had retrieved 71.9 percent of public funds used to bail out troubled firms as of end-June, the financial regulator said Wednesday. In the three months ended June 30, the country retrieved 596 billion won (US$429.6 million) in public funds injected since the 1997-98 Asian financial crisis, according to the Financial Services Commission. The retrieval rate inched up from 71.4 percent three months earlier, with a total of 121.2 trillion won of the 167.7 trillion won used to save local businesses retrieved as of end-June. Of the funds recouped in the second quarter, most came from dividends from bailed-out firms, the financial regulator said. Source: Yonhap News Agency