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[Apha Biz=(Chicago) Reporter Paul Lee] The Financial Supervisory Service wrongly disclosed the status of its subsidiaries' credit offerings and notified Woori Financial Group of sanctions that were omitted.
The Financial Supervisory Service said on the 7th that it has imposed a fine of 24 million won on Woori Financial Group for violating its obligation to disclose its management, including internal transactions between subsidiaries.
In addition, the government imposed caution measures on one employee and sanctions on one retiree for "illegal and unfair matters" (equivalent to caution).
In order to protect depositors and investors, financial holding companies must disclose the status of credit offerings between subsidiaries within three months of the settlement date.
However, in its management disclosure in 2019 and 2020, Woori Financial Group was found to have incorrectly disclosed or omitted the credit donation status of 454.1 billion won between subsidiaries and the credit donation status of 1.45 trillion won among grandson companies, and violated its obligations.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
