[2021 National Audit] Kim Taehyun, KODIT President, "Decision on Exercising Woori Financial Shareholder Rights After Judicial Review"

Kim Tae-hyun, President of the Korea Deposit Insurance Corporation, is attending the National Assembly's Public Administration and Security Committee's audit on the Korea Deposit Insurance Corporation held at the National Assembly on the 18th, providing a business report. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Song Seung-seop] Kim Tae-hyun, president of the Korea Deposit Insurance Corporation (KDIC), commented on the claim that KDIC should exercise shareholder rights against Sohn Tae-seung, chairman of Woori Financial Group, stating, "If a final judicial decision is made and there are circumstances that should be appropriately addressed as a shareholder, we will take proper measures."

On the 18th, during the National Assembly's Political Affairs Committee audit, Democratic Party lawmaker Oh Ki-hyung asked, "Have you reviewed how to exercise shareholder rights regarding Woori Bank?" Kim made this remark in response.

KDIC is a shareholder holding 15.13% of Woori Financial Group's shares. It became the largest shareholder during the restructuring of the banking sector amid the International Monetary Fund (IMF) foreign exchange crisis and is currently pursuing the sale of its shares.

Lawmaker Oh mentioned that since KDIC is a shareholder of Woori Financial Group, it has an obligation to file a shareholder derivative lawsuit related to the overseas interest rate-linked derivative-linked fund (DLF) incident. He argued that KDIC should exercise shareholder rights because there were inappropriate issues during Woori Bank's sale of DLF products.

However, President Kim stated, "Taking action before the first trial verdict and before the specific (DLF lawsuit) results are finalized is difficult, even as a shareholder."

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