Korea Deposit Insurance Corporation (KDIC) said on the 19th that it sold about 0.6% (450,000 shares) of its Seoul Guarantee Insurance Company(031210) equity through a pre-market block sale before the stock market opened.
KDIC recouped 19 billion won in public funds through this sale. As a result, out of the principal of 10.25 trillion won provided to Seoul Guarantee Insurance Company, the total recovered amount increased to 5.4975 trillion won. The cumulative recovery rate rose by 0.19 percentage points from 53.45% to 53.64%.
KDIC said, "We plan to work to maximize the recovery of public funds by exploring various options to sell the remaining equity in Seoul Guarantee Insurance Company," and added, "The timing of the sale of the remaining equity will be reviewed through discussions of the Public Funds Management Committee at a later date, considering market conditions, in a way that minimizes the impact on the share price."