South Korean bank has announced plans to overhaul its asset management business, and pledged to compensate its customers according to the local regulators' mediation decision on the mis-selling scandal of rate-linked products

South Korea’s Woori Bank has decided to temporarily stop the sales of ‘ultra-high risk’ products until the overhaul of its asset management business is completed. The bank will also limit sales of all non-principal protected products. Non-principal protected structured products in South Korea, such as equity-linked securities (ELS) and derivative-linked securities (DLS), are classified as ‘high risk’ or ‘ultra-high risk’ products depending on the produc