Investors lost an estimated KRW 1.7 trillion. Lime Asset Management has a reported KRW 520 billion in debt, compared to just KRW 19 billion in assets, which will be liquidated.
February 24, 2022Shinhan Investment and KB Securities were ordered to suspend parts of their operations for six months. Daishin Securities was ordered to close a branch.
November 16, 2021Daishin Securities is asked to compensate investors up to 80% of losses after it missold funds managed by Lime Asset Management.
August 3, 2021The central bank is considering a possible increase in its policy rate and a normalisation of monetary policy this year.
June 17, 2021The FSS will encourage banks and securities firms that sold frozen Lime funds to voluntarily settle disputes with other investors based rates set at the ruling.
February 25, 2021Woori Bank, Busan Bank and Industrial Bank of Korea have reportedly agreed to pay restitution to investors based on estimated damages.
January 26, 2021The FSC has also revoked the registration of Lime Asset Management, imposed a 950mn won fine against the firm and ordered the suspension of its staff and executive personnel.
December 7, 2020The FSS has decided to order the suspension of the former CEOs of Shinhan Investment, Daishin Securities and KB Securities over the mis-selling of Lime Asset Management funds.
November 13, 2020Investigators from Seoul’s prosecution office raided the headquarters of Shinhan Investment Corp, Korea Investment & Securities, and KB Securities last week.
November 3, 2020Subject to FSC approval, the FSS will revoke Lime's business registration and order the company to dismiss its CEO, who was arrested in July.
October 21, 2020