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Hana Financial Group CEO Ham Young-joo [NEWS1]

High Court strikes FSC's ruling on Hana Bank CEO's improper trades

The Seoul High Court nullified the FSC's previous reprimand of Hana Financial Group CEO Ham Young-joo for the improper sale of high-risk financial products, acknowledging his role in the dealings but admitting only two of the 10 charges.

2024.2.29

Woori Financial Group Chairman Son Tae-seung [YONHAP]

Supreme Court rules in favor of Woori Financial chair Son

The Supreme Court ruled in favor of Woori Financial Group Chairman Son Tae-seung on Thursday and said that the regulators should not have punished him for the improper selling of high-risk derivative-linked funds (DLFs) by Woori Bank.

2022.12.15

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Woori Financial Group Chairman Son Tae-seung speaks at a press conference held in central Seoul on July 21. [NEWS1]

Seoul High Court upholds ruling in favor of Woori Financial Group

The Seoul High Court upheld the decision to rule in favor of Woori Financial Group Chairman Son Tae-seung in his appeals trial on the improper selling of high-risk derivative-linked funds (DLFs) by Woori Bank.

2022.7.22

New Hana Financial Group Chairman Ham Young-joo [YONHAP]

At AGMs, new directors, a chairman are appointed

Shareholders of Hana Financial Group approved Ham Young-joo as chairman.

2022.3.25

Hana Financial Group Vice Chairman Ham Young-joo speaks to the press after attending the first trial at the Seoul Western District Court on Friday where he was ruled not guilty of being involved in Hana Bank's illegal hiring practices that took place in 2015 and 2016. [YONHAP]

Court suspends regulatory punishment on Hana vice chairman

A Seoul court on Thursday agreed to temporarily suspend a regulatory punishment imposed on Hana Financial Group Vice Chairman Ham Young-joo.

2022.3.24

Hana Financial Group chairman nominee Ham Young-joo [YONHAP]

Disciplinary warning for Hana's Ham upheld by Seoul court

A regulatory punishment imposed on Hana Bank CEO Ham Young-joo has been upheld by a court, the same court that overturned the same penalty for a person in the same position at another institution found to have committed the same offense.

2022.3.14

Woori's Son wins DLF case against FSS

Woori Financial Group Chairman Son Tae-seung has won an administrative case against the Financial Supervisory Service (FSS).

2021.8.27

Derivative-linked fund (DLF) investors protest in front of the Financial Supervisory Service (FSS) building on Dec. 5, 2019. [NEWS1]

Cooling off period now required for high-risk investments

Under the new regulations, investors will be given a two-business day review period before their investment is finalized. Financial institutions will have to record all sales dialogue to ensure that investors are given adequate information.

2021.5.10

Lime investors hold a rally in Yeouido, western Seoul, on Oct. 29, demanding a full return of their investment money to the Financial Supervisory Service. [YONHAP]

KB Securities ordered to reimburse some Lime investors

KB Securities has been ordered to make restitution for up to 80 percent of some investments made in Lime Asset Management funds.

2020.12.31

An elderly investor who suffered losses from a derivative-linked-fund sold by Woori Bank collapsed in the corner of a bank branch in Gyeonggi. [YONHAP]

Banking the old-fashioned way is defended by FSC

Financial Services Commission (FSC) announced new rules designed to help senior citizens marginalized by digitization and complicated investment products.

2020.8.30