Sell KDIC Stocks During Seoul Guarantee Insurance Listing, Financial Services Commission View ⓒ News1,
(Seoul=News1) Reporter Kim Jae-hyun = The Financial Services Commission announced on the 30th that it recovered 181.5 billion won in public funds in the first quarter of this year.
This amount was recovered by selling 6.98 million shares out of the 65.53 million shares held by Korea Deposit Insurance Corporation at the offering price of 26,000 won during Seoul Guarantee Insurance’s listing on the securities market.
Since November 1997 until the first quarter of this year, the government has recovered a total of 121.6 trillion won. This amounts to 72.1% of the total 168.7 trillion won in public funds injected during that period. The government initially raised and invested these funds using government-guaranteed bonds to address financial institution insolvencies during the 1997 economic crisis.
The Financial Services Commission stated, “We will continue to make efforts to ensure smooth repayment of public funds through efficient management and sale of assets, including financial company shares.”