Hana Bank, First Operation of DLF Compensation Committee

[Asia Economy Reporter Kim Min-young] KEB Hana Bank announced on the 15th that it held a compensation committee meeting for overseas interest rate-linked derivative-linked funds (DLF) and has officially begun voluntary compensation adjustments.

According to Hana Bank on the day, the Financial Supervisory Service (FSS) sent compensation standards (draft) for DLF mis-selling to each bank the day before, and Hana Bank pledged to do its best to ensure prompt and fair compensation.

At the first meeting of the DLF Compensation Committee held that day, the facts were confirmed according to the compensation standards (draft) of the FSS Dispute Mediation Committee, and compensation rates of 40%, 55%, and 65% were deliberated and resolved depending on the investor. The resolved details were notified to stakeholders such as branches, and compensation was to be made immediately through agreements with customers.

The compensation committee members attending the DLF Compensation Committee stated, “We expect that Hana Bank’s prompt and transparent compensation procedures will lead to trust recovery and serve as a foundation for protecting financial consumers,” and “We will do our best to be trusted and to create a healthy financial market through fair and reasonable compensation.”

Hana Bank’s DLF Compensation Committee is composed of six external experts appointed based on recommendations from the legal sector, financial-related academic societies, and civic groups. The bank evaluates that a system has been established to ensure transparent and fair voluntary adjustments.

Previously, based on this, Hana Bank conducted a voluntary investigation to identify the sales facts for about 400 cases subject to voluntary compensation adjustments, preparing for prompt compensation.

A Hana Bank Financial Consumer Protection Department official said, “Through the DLF Compensation Committee, we will ensure voluntary compensation adjustments that all investors and stakeholders can accept,” and “We will do our best to restore trust with customers and the market and to protect financial consumers.”

This content was produced with the assistance of AI translation services.