The final surcharge amount is about 15% lower than the FSS had pre-notified.

The Financial Supervisory Service (FSS) has decided to impose a penalty surcharge of about KRW1.4 trillion (US$970m) on banks over the mis-selling of Hong Kong H-share Index equity-linked securities (ELS), according to local media reports. Sanctions on the institutions were downgraded by one level Sanctions on the institutions were downgraded by one level, from the initially considered partial business suspension to an institutional warning. The FSS convened its third sanctions review commi