Posted October. 26, 2001 09:01,
The public funds, which have been invested for financial institutions since the money crisis, reached almost 150 trillion won.
The Ministry of Finance and Economy revealed yesterday that total 148 trillion and 300 billion won has been invested as a public fund from November 1997 to the end of last month. Compared to the end of August, the invested public fund increased by 7 trillion 100 billion won just in a month.
Among the second public fund 50 trillion won raised at the end of last year, the government already used 40 trillion and 600 billion won until the end of last month. On the other hand, the collected public fund amounted to only 36 trillion 700 billion won, dropping the recovery rate down to 24.7 percent.
Regarding this, the Financial Supervisory Committee reprimanded 1,209 people responsible for insolvency through the examination on the financial institutions to which the public funds have been invested. Among them, 1,209 people were prosecuted under the criminal law. Besides, the Deposit Insurance Corporation brought an action for damage against 3,051 responsible for insolvency.