The Financial Supervisory Service (FSS) said Friday that it punished seven Samsung Life Insurance executives and employees for having interfered in its inspection and for other irregular activities in management.
The financial watchdog said it ordered salaries for two employees reduced and reprimanded three, while giving two executives warnings.
According to the top regulator, the nation's largest insurer did not submit documents it requested during a five-week comprehensive audit of the insurer late last year.
It also slapped Samsung with a 10 million won ($8,380) fine after finding that it failed to fulfill its obligation of reporting to the regulator changes in critical illness insurances, on top of wrongfully calculating assumed risks.
Initially, the FSS decided to penalize 18 executives and employees in April.
The FSS conducted an inspection of the insurer from Oct. 29 to Dec. 2 last year before deciding what punishment to impose.