Public funds operations as of June 2006
In June, the government injected 4.5 billion won in public funds including 0.4 billion won for indemnification for lawsuits related to Korea Investment & Securities and 4.1 billion won to make up for net asset shortage resulting from acquisition of insolvent financial institutions by 6 savings banks.
The injection of public funds is limited to cases in which certain financial institutions were designated as insolvent for the reasons uncovered before the end of 2002.
In terms of collection, a total of 713.4 billion won was recovered. Korea Deposit Insurance Corporation (KDIC) received 31.2 billion won of the bankruptcy estate dividends from some bankrupt foundations of which 10 billion won from cash management accounts, 14.3 billion from treasury accounts and 6.9 billion won from credit union accounts as dividends. KDIC recouped 172.5 billion won from selling its assets of Korea Investment and Securities and Korea First Bank (the predecessor of Standard Chartered First Bank Korea) that it had purchased due to their underwriter's refusal to accept. The Korea Asset Management Corporation (KAMCO) received 507.2 billion won from the sale of non-performing loans mainly from Daewoo Group affiliates. Early repayment was completed on Daewoo Engineering &Construction's NPLs worth 417.3 billion won, which was scheduled to be repaid from 2006 to 2010 according to an installment schedule. Daewoo Heavy Industries & Machinery's NPLs of 50.5 billion was also recovered in line with a debt repayment plan. KAMCO issued ABS worth 25.6 billion won.
Government-guaranteed deposit insurance fund bonds of 14.6 trillion won (principal basis) with maturity from January to June 2006 were recovered of which 7.5 trillion won from the government contribution, 2.9 trillion from refinancing and others from redemption fund.
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2008년 10월 6일 16:30
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2008년 8월 6일 17:21