Woori Bank "Selling Lime's Bad Debt Despite Knowing? Malicious Reporting Contrary to Facts"

[Asia Economy Reporter Kim Hyo-jin] Woori Bank has denied media reports claiming that it continued to sell Lime funds despite being aware of potential insolvency risks since the end of February 2019, stating that the reports are "clearly different from objective facts and contain maliciously edited and distorted content."

According to banking sources on the 4th, Woori Bank asserted in a statement released the previous day that "there was no fact of launching or selling products while knowing Lime's illegal behavior," and added, "We are certainly not a company that sells faulty products for the sake of sales commissions."

Woori Bank emphasized, "It is an obvious fact that neither the supervisory authorities nor the media raised any issues regarding Lime as of April 9, 2019."

The bank also claimed, "If anyone knew about the insolvency of Lime funds at that time, it would have been Lime itself or its fraudulent conspirators," and stated, "However, our bank did not collude with Lime in any way, nor did any of our executives or employees commit corruption related to the sale of Lime funds."

Woori Bank continued, "Despite being a significant victim of the (Lime fund) fraud, our bank has taken the lead in compensating customer damages and has actually returned the full principal investment to customers who invested in trade finance funds," adding, "In light of the fact that we are bearing enormous financial losses and focusing on damage recovery, reports claiming that we continued to sell Lime funds for sales commissions are extremely malicious."

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