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 ($5.8 billion).

“We will use more than 5 trillion won of the resources that have been generated by the won’s rise and other factors to stabilize the people’s lives and strengthen public safety,” Finance Minister Choi Kyung-hwan told a meeting that discussed reform measures for public organizations and their management.

This will be in addition to 40.7 trillion won worth of economic stimulus measures that the government unveiled last week. The measures focused mostly on boosting household income and encouraging consumption and corporate investment.

Choi, who took office in mid-July, also said that the new economic team will maintain its predecessor’s efforts to reform public organizations struggling with fast growing debt.

He said the government at the same time will encourage them to play a role in boosting the country’s economy. (Yonhap)