Hana Bank Disciplinary Hearing May Resume as Early as September... Impact of DLF Administrative Lawsuit Verdict Postponement

Hana Bank Headquarters

[Asia Economy Reporter Kwangho Lee] The disciplinary committee for Hana Bank related to the suspension of redemptions in private equity funds is expected to resume next month. This is due to the postponement of the ruling in the administrative lawsuit filed by Sohn Tae-seung, Chairman of Woori Financial Group, against former Financial Supervisory Service (FSS) Governor Yoon Seok-heon regarding overseas interest rate-linked derivative-linked funds (DLF).

According to the financial sector on the 22nd, the FSS will hold a disciplinary hearing on the comprehensive inspection results and related measures for Hana Bank as early as early September.

This will be the second disciplinary hearing since the 15th of last month, and cases involving Lime Asset Management, Discovery, Heritage, and Healthcare funds, which Hana Bank sold and caused controversy over incomplete sales, will all be on the agenda.

The FSS held Hana Bank responsible for incomplete sales and issued a severe disciplinary action of 'institutional warning' to the bank, while giving a prior notice of 'reprimand warning' to Ji Sung-kyu, then Vice Chairman of Hana Financial Group and the bank president at the time.

Meanwhile, the second disciplinary hearing for Hana Bank is attracting attention as it will be the first held under the leadership of FSS Governor Jung Eun-bo.

Former Governor Jung stated, "The essence of financial supervision lies in support, not regulation," expressing a market-friendly philosophy. Since former Governor Yoon, who prioritized consumer protection and took a tough stance on financial company sanctions, has left and a new governor has taken office, there is speculation that the atmosphere of the disciplinary hearings may also change.

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