The Financial Supervisory Service to Conclude Samsung Life Disciplinary Hearing on the 3rd of Next Month

[Image source=Yonhap News]

[Asia Economy Reporter Oh Hyung-gil] The Financial Supervisory Service's Disciplinary Committee has not reached a final conclusion on the comprehensive audit results of Samsung Life Insurance. The meeting will resume on the 3rd of next month.

The FSS held the disciplinary hearing from 2 p.m. today to review the inspection result measures against Samsung Life Insurance.

While listening to statements and explanations from Samsung Life Insurance representatives (including legal representatives) and the Inspection Bureau, the deliberation continued late into the night, but due to time constraints, the meeting was adjourned and will resume on the 3rd of next month.

The FSS had previously notified Samsung Life Insurance of a severe disciplinary action of institutional warning in the prior notice letter. Issues included non-payment of cancer insurance benefits for long-term care hospitals and violations of major shareholder transaction restrictions.