State-operated KDIC will no longer be the largest shareholder of Woori Financial Group, 23 years after the group was created in a government bailout.
November 24, 2021South Korea's FSS will shift focus from disciplinary actions to risk prevention, according to FSS governor Jeong Eun-bo.
November 11, 2021Six industry bodies have filed a joint request asking regulators to grant their boards more autonomy over their internal affairs rather than punishing their executives.
September 16, 2021An FSS decision to ban Woori Financial Group Chairman Son Tae-seung from the financial industry for three years is effectively nullified.
August 31, 2021The Covid-19 pandemic and a lack of IT engineers are said to be stalling system development and API testing.
July 17, 2021Shinhan Bank has separately been ordered to repay up to 75 percent of investments it sold in Lime's credit insured funds.
April 22, 2021Woori will compensate investors who lost money from funds managed by Lime Asset Management in line with FSS recommendations.
March 16, 2021Korea Federation of Banks chairman says the punishments imposed against executives whose banks sold Lime funds are seen by many as a way to shift blame.
March 11, 2021Yoon Suk-heun, whose three-year term ends in two months, allegedly promoted certain officials who had been punished for hiring irregularities.
March 10, 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, 2021