The inspection found that the amount embezzled was more than originally reported, and the Woori had insufficient internal controls in place.
August 3, 2022The probe was prompted by abnormal trading activity at Woori and Shinhan Bank. Other banks have been asked to conduct internal inspections.
July 6, 2022This is the first time that a Korean virtual asset exchange and a bank have been used as channels for money laundering, an official said.
June 30, 2022Korea’s post offices will start offering deposit, withdrawal, balance inquiry and ATM services of four banks - Kookmin, Shinhan, Woori and KEB Hana.
June 22, 2022The FSS will seek to understand why Woori's internal control system failed to detect embezzlement by its employee over ten years.
May 30, 2022Days earlier a Woori Bank employee was arrested for embezzling KRW 61.4 billion between 2012 and 2018.
May 23, 2022The theft occurred in three separate withdrawals between 2012 and 2018. It went undetected despite 11 inspections and audits at Woori during the period.
May 3, 2022Investors 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, 2022The FSS is also proposing to force Hana Bank executives and employees involved in DLF mis-selling to pay penalties.
February 1, 2022Six domestic banks and five foreign banks were selected to serve as market makers of the KRW-RMB direct trading market in 2022.
January 4, 2022