Financial Supervisory Service and Hana Bank Union: "CEO Must Be Held Accountable for DLF Incident"

[Asia Economy Reporter Jo Gang-wook] On the 29th, a day before the 3rd Disciplinary Committee meeting regarding the overseas interest rate-linked derivative-linked fund (DLF) incident, the Financial Supervisory Service (FSS) and the KEB Hana Bank labor union stated that the bank management should be held strictly accountable.

The Financial Supervisory Service branch of the National Office and Financial Services Labor Union (Financial Labor Union) issued a statement on the day, saying that the management of the selling banks, Woori and Hana Bank, must be held strictly responsible.

The FSS labor union said, "From the product planning to the sales of the DLF, all sorts of tricks and foul play were rampant," adding, "Holding the Chief Executive Officer (CEO) accountable is the way to protect consumers."

Also, the FSS labor union stated, "The top management of the banks in question are denying responsibility by claiming that their signatures are not on the approval documents in the two disciplinary hearings," and urged, "We hope Yoon Seok-heon, Governor of the FSS, will realize justice by holding the top executives strictly accountable."

The National Financial Industry Labor Union KEB Hana Bank branch submitted a petition to the FSS on the same day, demanding accountability from the highest decision-makers related to the DLF issue.

In the petition, the Hana Bank labor union argued, "The root cause of the DLF incident lies in prioritizing profits while neglecting risk management and weakening internal controls," and claimed, "The bank president, who was the highest decision-maker overseeing all actions at the time, is responsible."

Furthermore, the Hana Bank labor union requested, "There is a mobilization at the entire bank level to protect irresponsible and unethical management," and asked, "Please minimize disciplinary actions against employees, reflecting their dedicated efforts and hardships to resolve the situation."

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