The board of directors of Woori Financial Group announced on the 4th that it had discussed whether to file a lawsuit against financial authorities in relation to the ‘Lime Fund Incident’, but could not come to a conclusion.
According to Woori Financial Group, outside directors of the holding company and the bank held a meeting that day and discussed ways to respond to lime sanctions.
An official from Woori Financial Group said, “The outside directors have sufficiently discussed the lime sanctions and the main lawsuit, but have not reached a final conclusion.”
However, the outside directors decided to proceed with the appointment committee meeting and agreed to hold the appointment committee meeting on the 18th of this month.
In September of last year, the Financial Services Commission confirmed a censure warning against Chairman Sohn in connection with Woori Bank’s suspension of redemption of private equity funds by Lime Asset Management. If you receive a severe punishment that is higher than a censure warning, your consecutive appointments and employment in the financial sector will be restricted.
Chairman Sohn’s term expires on March 25. According to the Articles of Incorporation of Woori Financial Group, the appointment committee must initiate management succession procedures at least 30 days prior to the date of notification of the convocation of the general meeting of shareholders. Notification of a general meeting of shareholders is usually made in early March.