1st Quarter Public Funds Recovery of 136.6 Billion KRW... Cumulative Recovery Rate at 71.5%

Woori Financial Group Sells Remaining 1.24% Stake

The government recovered 136.6 billion KRW of public funds in the first quarter. This was achieved by selling all remaining shares of Woori Financial Group held by the Korea Deposit Insurance Corporation.

According to the "2024 First Quarter Public Fund Management Status" announced by the Financial Services Commission on the 24th, out of the total public funds of 168.7 trillion KRW injected from November 1997 to the end of March this year, 120.6 trillion KRW has been recovered. The cumulative recovery rate stands at 71.5%.

Public funds refer to the funds created using government-guaranteed bonds and other resources to resolve financial institution insolvencies following the 1997 economic crisis. Last month, the KDIC sold the remaining 1.24% stake in Woori Financial Group, recovering 136.6 billion KRW of public funds in the first quarter.

The Financial Services Commission stated, “Going forward, the government, KDIC, and related agencies will continue to make efforts to ensure smooth repayment of public funds through efficient management and smooth sale of held assets such as shares in financial companies (Seoul Guarantee Insurance, Korea Financial Investment Brokerage, Hanwha Life, Hanwha Ocean).”