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Public firms to sell 14.5 tln won worth of assets by 2027

강윤승 / 2022-11-11 16:00:04
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public firms-asset sales


public firms-asset sales

Public firms to sell 14.5 tln won worth of assets by 2027

SEOUL, Nov. 11 (Yonhap) -- State-run companies will sell assets worth 14.5 trillion won (US$10.9 billion) by 2027 in line with efforts to improve their fiscal health, the finance ministry said Friday.

The asset sale plan includes selling off property assets worth 11.6 trillion won owned by 124 organizations, according to the Ministry of Economy and Finance.

They will raise another 700 billion won by selling non-essential assets, including golf club memberships, ships and automobiles, the ministry added.

The move came in line with the government's efforts to reduce the swelling debts.

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