State-run Industrial Bank of Korea (IBK) should reimburse up to 80 percent of losses related to funds structured by Discovery Asset Management, according to a recommendation from the Financial Supervisory Service (FSS).
Shinhan Bank has been ordered to repay up to 75 percent of investments it sold in Lime Asset Management's Credit Insured funds.
Shinhan Bank has been ordered to make restitution for up to 75 percent of some investments made in Lime Asset Management funds.
NH Investment & Securities has been ordered to reimbursed all principal lost by two investors in Optimus Asset Management funds purchased through the brokerage.
A dispute settlement committee under the Financial Supervisory Service (FSS) announced Tuesday NH Investment & Securities should return to investors all of the invested principals related to problematic Optimus Asset Management funds.
Korea has a higher level of financial literacy than the Organization for Economic Cooperation and Development (OECD) average, according to a report by the Financial Supervisory Service and the Bank of Korea on Monday.
Trying to crack down on real estate profiteering by Korea Land and Housing Corp. (LH) employees using inside information, the Moon Jae-in administration ...
The net income of domestic banks declined 11.5 percent last year to 12.3 trillion won ($10.9 billion), according to preliminary earnings data of 19 banks, including internet-only banks, provided by the Financial Supervisory Service (FSS) on Monday.
The Financial Supervisory Service (FSS) plans to improve accountability at financial companies by requiring them to clarify who is in charge of what.
Monitoring of alternative investments by brokerages will be strengthened from March as the country’s financial authorities strive to better manage risks.