Following Shinhan, Hana Bank Also Rejects KIKO Compensation Proposal
[Asia Economy Reporter Jo Gang-wook] Following Shinhan Bank, Hana Bank has also decided to reject the KIKO compensation plan.
On the 5th, Hana Bank held a board meeting and announced that it concluded to not accept the Financial Supervisory Service's Dispute Mediation Committee's compensation recommendation regarding the foreign exchange derivative product KIKO.
A Hana Bank official explained, "Based on a long-term, in-depth verification of facts and legal review, the board of directors thoroughly discussed and decided to reject the mediation result."
He added, "However, as previously stated, for companies subject to the FSS's voluntary compensation, we plan to conduct sincere discussions through participation in the inter-bank consultative body."
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Earlier, Shinhan Bank also held a board meeting on the same day and announced that it decided not to accept the compensation recommendation for the four companies for which the FSS Dispute Mediation Committee made mediation decisions.
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