IBK pressed to compensate for fund fiasco following Woori s decision
Posted : 2021-03-15 16:11
Updated : 2021-03-15 19:51
Industrial Bank of Korea CEO Yoon Jong-won speaks during an event to discuss next-generation vehicles industry in Seoul on Feb. 4. Yonhap
By Lee Min-hyung
The Industrial Bank of Korea (IBK) is pressed to follow a similar path to Woori Bank which decided Monday to accept a regulator s arbitration result, and pay a sizable amount of compensation for its mis-selling of Lime Asset Management funds.
Woori s decision came weeks after the Financial Supervisory Service (FSS) dispute mediation committee released its own probe on the two banks last month. The recommendation urged the banks to provide compensation of up to 78 percent in principle to victims who had invested in the troubled Lime fund products.
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