Kim Bong-hyun, the former chairman of Star Mobility at the center of a massive financial fraud, was sentenced to 30 years in prison by a Seoul court Thursday for embezzlement.
The court must bring to justice Kim Bong-hyun, former chairman of Star Mobility and the key figure behind the fraud related to Lime Asset Management, who cut off his electronic-tracking ankle bracelet.
Korea's financial regulator on Thursday ordered Daishin Securities to compensate an investor up to 80 percent of losses due to the brokerage's misselling of funds run by now-defunct Lime Asset Management.
Shinhan Bank’s board Wednesday accepted a Financial Supervisory Service (FSS) recommendation for compensation of some Lime Asset Management investors.
Woori Financial Group Chairman and CEO Son Tae-seung has been sanctioned by the Financial Supervisory Service (FSS) and could be barred from another term as an executive or as a board member of the company.
Banks are scrambling to get ready as a law designed to protect interest of financial consumers takes effect Thursday.
Woori Bank said Monday it accepted the decision by a Financial Supervisory Service (FSS) committee that ordered it to pay restitutions for up to 78 percent of some investments made in Lime Asset Management funds.
Woori Bank and the Industrial Bank of Korea (IBK) have been ordered to make restitution for up to 78 percent of some investments made in Lime Asset Management funds.
The Seoul Southern District Court sentenced Lee Jong-pil, former vice president of Lime Asset Management, to 15 years in prison on Friday.
The Financial Supervisory Service (FSS) was established in 1999 to protect depositors, investors and other financial customers. To achieve that goal, the FSS was given enormous authority to regulate the financial sector. It...
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