The bank’s chairman was at the centre of a scandal after an FSS probe in August 2019 found there had been mis-selling of derivative-linked securities (DLS) to retail investors.

The Seoul Administrative Court has invalidated the sanction on Woori Financial Group chair and CEO Son Tae-seung (pictured) from the Financial Supervisory Service (FSS) in relation to the sales of derivative-linked funds (DLF) that track derivative-linked securities (DLS).  ‘The FSS respects the judiciary’s ruling,’ said the financial watchdog in a press release. ‘We will decide whether to appeal or not by closely analyzing details, such as the judging criteria.&rsq

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