Financial Services Commission Respects First Instance Ruling on Woori Bank DLF Case
[Asia Economy Reporter Kwangho Lee] On the 27th, the Financial Services Commission stated that it "respects the first-instance court ruling" regarding the loss in the administrative lawsuit related to Woori Bank's overseas interest rate-linked derivative-linked fund (DLF).
The Seoul Administrative Court Administrative Division 11 (Chief Judge Kang Woo-chan) ruled in favor of the plaintiffs in the lawsuit filed by Sohn Tae-seung, Chairman of Woori Financial Group, and two others against the Financial Supervisory Service, requesting the cancellation of a disciplinary warning.
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The Financial Services Commission said, "We respect the judiciary's ruling" and "We plan to carefully review the contents of the ruling and organize our position going forward."
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