Hana Bank Returns Full Principal of 23.3 Billion KRW from Investment in German Heritage Fund

[Asia Economy Reporter Bu Aeri] Hana Bank will return the full principal amount to investors who invested in the German Heritage Fund. Hana Bank's Heritage Fund investors number 73 accounts, totaling KRW 23.33 billion.

On the 12th, Hana Bank held a board meeting and made this decision. After thorough legal review and careful consideration of the Financial Dispute Mediation Committee's adjustment decision, Hana Bank decided to accept the intent of the order to pay the full principal amount. However, the bank stated that due to legal disagreements regarding the reasons for the decision, it is difficult to accept it as is.

A Hana Bank official said, "However, this is a high-level investor protection measure that can effectively have the same effect as the Dispute Mediation Committee's adjustment decision," adding, "We will proceed with a prompt voluntary adjustment process to pay the full principal amount to investors and make every effort to restore trust."

Meanwhile, on November 21 of last year, the Financial Supervisory Service held a Dispute Mediation Committee meeting and decided to cancel contracts due to error for six dispute mediation applications related to the German Heritage Fund sold by six financial companies, recommending that the sellers return the full principal amount to investors.

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