Korean government to spend 5tr won of public firms' money
South Korea's state-run oil
Seoul - Yonhap
The government plans to spend the money that public organizations gained from foreign exchange rates to better stabilize the livelihood of the people and strengthen public safety, the finance minister said Thursday.
The won's ascent against the U.S. dollar has helped public organizations such as Korea Electric Power Corp. and Korea National Oil Corp. reduce their debt and save import costs of raw materials. The government estimated such savings and debt reduction at about 6 trillion won (US$5.8 billion).
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