President Lee Jae-myung on the 3rd noted that the government's share of public funds injected to overcome the foreign exchange crisis will be repaid for the last time next year, saying, "Thanks to the people who have worked steadfastly for 30 years, we have been able to bring this to a close."
On this day, the president wrote a post on social media X (formerly Twitter) titled "Repaying the last debt of the foreign exchange crisis after 30 years."
Lee said, "The repayment of public funds arranged to prevent a national default during the 1997 IMF foreign exchange crisis will be completed with next year's budget," adding, "Just as the people's strength helped us overcome the nation's most difficult moment about 30 years ago, we have been able to wrap this up thanks to the people who have worked steadfastly."
He added, "I will not forget that time. People of Korea, you have truly worked hard."
At the time of the foreign exchange crisis, the government injected large-scale funds for financial institution restructuring through the Korea Deposit Insurance Corporation (KDIC) and the Korea Asset Management Corporation (KAMCO).
According to the National Assembly Budget Office, at the end of last year, the Public Fund Repayment Fund debt balance was 1.5 trillion won. The government plans to repay 714.86 billion won this year and the remaining 792.26 billion won next year.