Woori Bank Accepts Lime Fund Dispute Resolution Proposal: "Prompt Compensation Payment"

Temporary Board Meeting Held... Expanding Voluntary Adjustment to Remaining Subscribers as Well

[Asia Economy Reporter Kwangho Lee] Woori Bank announced on the 15th that it held an extraordinary board meeting and resolved to accept the decision of the Financial Supervisory Service's Lime Fund Dispute Mediation Committee, which was notified last week.

According to this mediation committee's compensation plan, Woori Bank will immediately pay compensation to the affected customers and additionally decided to expand voluntary mediation to other remaining subscribers, thereby promoting compensation.

The Lime funds related to the dispute mediation plan include Top2, Pluto, and Thetis, which have had redemption delays, totaling approximately 270.3 billion KRW. Woori Bank plans to calculate compensation by applying adjustment factors for each investor to the basic compensation ratio according to the mediation committee's decision and promptly pay other affected customers.

A Woori Bank official stated, "Last year, the mediation committee's decision for 100% compensation on the Lime Trade Fund was accepted most proactively by the board and employees' determination that restoring customer trust is the top priority," adding, "We decided to accept this mediation committee compensation plan with the intention of minimizing customer damage by paying compensation as quickly as possible."

Furthermore, the board deeply agreed that Woori Bank must become the leading bank in financial consumer protection to restore customer trust, and decided to actively discuss consumer protection measures at the board level in the future.

At the group level as well, significant innovations have been made to protect consumers, such as establishing an Internal Control Management Committee at the holding company's board last year and expanding financial consumer protection organizations in both the holding company and the bank. In line with amendments to the Financial Consumer Protection Act, various consumer protection systems will also be developed.

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