The Korea Times close
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Business
  • Tech
  • Bio
  • Companies
Finance
  • Companies
  • Economy
  • Markets
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
Entertainment
& Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
Sports
  • Beijing Olympics
World
  • SCMP
  • Asia
Video
  • Culture
  • People
  • News
Photos
  • Photo News
  • Darkroom
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
Finance
  • Companies
  • Economy
  • Markets
Thu, February 3, 2022 | 00:48
Companies
Woori chief vows to restore customer trust
Posted : 2019-09-23 16:21
Updated : 2019-09-23 16:23
Print Preview
Font Size Up
Font Size Down
By Kim Bo-eun

Woori Financial Group Chairman Sohn Tae-seung
Woori Financial Group Chairman Sohn Tae-seung
Woori Financial Group would cooperate in processes to compensate customers who suffered major losses from derivatives-linked funds (DLF) sold by the bank, group Chairman Sohn Tae-seung said Monday.

"We will fully cooperate in the dispute settlement process," Sohn said in a statement released after the chairman's meeting with the bank's heads of sales.

Woori said it would restructure the bank's asset management system for customers, as well as evaluation systems for sales staff and sales processes, to better protect customers.

It said the bank would set up a "customer care" division that would monitor the products customers have invested in, and notify them when the funds are set to see a significant loss.

The bank also plans to run programs for investors so that they have a better understanding of the various products that are sold.

Woori, along with KEB Hana Bank, is suspected to have engaged in mis-selling of the DLF products.

Options tied to yields on 10-year treasury bonds of Germany sold by Woori saw a 60 percent loss on Sept. 19, the first date of maturities for investors of DLF products. Sixty-four investors lost a total 7.87 billion won.

The banks have been inspected by the Financial Supervisory Service, and face dispute settlement processes filed by customers through the agency.


Emailbkim@koreatimes.co.kr Article ListMore articles by this reporter



 
  • A closer look at COVID-19 home treatment in Korea
  • Korea urged to explore ways to reduce China reliance
  • Indian students in Korea feel pinch due to soaring airfare
  • Daily life in Beijing as 2022 Winter Olympic Games kick off [PHOTOS]
  • Market Kurly, SSG.com uneasy about IPO amid plunging stock market
  • Woowa Brothers pressed to earn more for Delivery Hero
  • Lee, Yoon clash over health insurance coverage for foreign residents
  • Rival candidates churn out doubtful promises of construction projects
  • Concerns rise over post-holiday surge in COVID-19 cases
  • Banks protest regulators' call to expand bad debt allowance
  • Dark side of non-celebrities shooting to fame on reality TV shows Dark side of non-celebrities shooting to fame on reality TV shows
  • Not-to-miss art exhibitions, fairs in 2022 Not-to-miss art exhibitions, fairs in 2022
  • Jimin of BTS tests positive for COVID-19 Jimin of BTS tests positive for COVID-19
  • Former Miss USA Cheslie Kryst, 30, found dead after fall from Manhattan building Former Miss USA Cheslie Kryst, 30, found dead after fall from Manhattan building
  • BTS members send season's greetings to fans BTS members send season's greetings to fans
DARKROOM
  • Daily life in Beijing as 2022 Winter Olympic Games kick off [PHOTOS]

    Daily life in Beijing as 2022 Winter Olympic Games kick off [PHOTOS]

  • Celebrating Lunar New Year amid the ongoing pandemic

    Celebrating Lunar New Year amid the ongoing pandemic

  • Daily life in Afghanistan under Taliban rule

    Daily life in Afghanistan under Taliban rule

  • How snow looks around the world

    How snow looks around the world

  • Pictures of the year 2021

    Pictures of the year 2021

The Korea Times
CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Location
  • Media Kit
  • Contact Us
  • Products & Service
  • Subscribe
  • E-paper
  • Mobile Service
  • RSS Service
  • Content Sales
  • Policy
  • Privacy Statement
  • Terms of Service
  • 고충처리인
  • Youth Protection Policy
  • Code of Ethics
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group