Last Year's 4Q Public Funds Recovered 8 Billion KRW... Recovery Rate 69.5%

Recovery of 7.9 Billion KRW in Bankruptcy Bonds Held by KR&C

[Asia Economy Reporter Kwangho Lee] The amount of public funds recovered in the fourth quarter of last year was recorded at 8 billion KRW. As a result, the recovery rate of public funds from November 1997 to the end of last year reached 69.5%.

On the 28th, the Financial Services Commission announced through the "Status of Public Fund Management as of Q4 2020" that out of the total public funds of 168.7 trillion KRW, 117.2 trillion KRW had been recovered.

The 8 billion KRW recovered in the fourth quarter of last year includes 7.9 billion KRW from bankruptcy claims held by KR&C, a subsidiary of the Korea Deposit Insurance Corporation.

Public funds are divided into "Public Fund I," which was injected from November 1997 to resolve financial institution insolvencies following the International Monetary Fund (IMF) crisis, and "Public Fund II," which was provided to stabilize the financial market during the 2008 global financial crisis and whose management ended in 2014.

The recovery rate of public funds has remained in the 60% range, recording 66.2% in 2015, 67.8% in 2016, 68.5% in 2017, 68.9% in 2018, 69.2% in 2019, and 69.5% in 2020.