Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Medical reform committee kicks off despite boycott from doctors
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
The South Korean government said Tuesday it recouped 2.24 trillion won ($2 billion) of bailout funds, mostly used to help financial companies reeling from the 1997-98 Asian financial crisis, in the fourth quarter of last year.
The retrieval of taxpayers' money came mostly from the sale of Woori Bank, a major lender here, according to the Financial Services Commission.
The state-run Korea Deposit Insurance Corp. sold its 29.7-percent stake in the bank to seven institutional investors.
The KDIC retains around a 30-percent stake.
The government has extended a total of 168.7 trillion won in bailout funds between November 1997 and December 2016, with 114.3 trillion won, or 67.8 percent retrieved. (Yonhap)
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