Korea Deposit Insurance Corporation (KDIC) said on the 26th it recouped 161 billion won in public funds by selling 3 million shares (4.3%) of Seoul Guarantee Insurance Company equity.

KDIC sold Seoul Guarantee Insurance Company equity through an after-hours block sale before the stock market opened that day. Of the 10.25 trillion won in principal provided to Seoul Guarantee Insurance Company, 5.3193 trillion won has been recovered.

The headquarters of the Korea Deposit Insurance Corporation (KDIC) in Jung-gu, Seoul. /Courtesy of News1

The cumulative recovery rate rose 1.6 percentage points, from 50.3% to 51.9%. The remaining equity after the sale is 79.56%.

A long-only fund with a long-term holding objective participated in this transaction.

A KDIC official said, "The timing of the sale of the remaining equity and other details will be reviewed later through discussions by the Public Funds Management Committee, taking market conditions into account."

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