The FSS sought to reprimand Sohn Tae-seung, but two courts have now ruled in favour of the Woori Financial Group chairman and CEO.
August 4, 2022The FSS is also proposing to force Hana Bank executives and employees involved in DLF mis-selling to pay penalties.
February 1, 2022The appeal will follow a court decision to nullify an FSS decision to ban Woori Financial Group chairman Sohn Tae-seung for three years.
September 21, 2021An FSS decision to ban Woori Financial Group Chairman Son Tae-seung from the financial industry for three years is effectively nullified.
August 31, 2021Woori Financial Group’s chairman may be suspended from his duties, while the Shinhan Bank’s chief executive may receive a reprimand warning.
February 5, 2021The minimum required capital will be raised from 100mn to 300mn won. Private equity funds with high leverage will need 500mn won.
February 4, 2021FSS governor Yoon Suk-heun also pledged to establish a sustainable monitoring system, in light of events at Lime Asset Management and last year's derivative product mis-selling at banks.
April 29, 2020A Seoul court has granted an injunction against FSS sanctions that would have prevented chairman Sohn Tae-seung from seeking another term at Woori Financial Group.
March 27, 2020If the injunction is granted, it could clear the path for Woori Financial Group chairman Sohn Tae-sung to lead the group for another three-year term.
March 10, 2020Woori Bank and Hana Bank are additionally being fined 19.71bn and 16.78bn won, respectively, for mis-selling of derivatives-linked funds.
March 4, 2020