FSS to appeal against court ruling undoing sanction on Woori chief

South Korea’s Financial Supervisory Service has decided to appeal against the Seoul Administrative Court’s ruling that ordered the financial watchdog to revoke the reprimand warning it had slapped on Woori Financial Group chairman Son Tae-seung for his part in the group’s mis-selling of derivative-linked funds (DLFs) and related investors’ losses. The FSS’s appeal suggests it will pursue the ongoing legal battle with Hana Financial Group vice chairman Ham Young-joo who also has filed a lawsuit after receiving a reprimand for the DLF scandal.

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