Kim Han-seok and Other Lime Victims Win First Trial Against Daishin Securities

[Asia Economy Reporter Kwak Min-jae] Comedian Kim Han-seok and announcer Lee Jae-yong, who suffered losses investing in Lime Asset Management funds, won the first trial lawsuit they filed against the distributor Daishin Securities.

According to the legal community on the 28th, the 16th Civil Division of the Seoul Central District Court (Presiding Judge Moon Sung-kwan) ruled in favor of the plaintiffs in a lawsuit filed by four investors, including Kim and Lee, against Daishin Securities for the return of unjust enrichment.

The law firm Woori, which represented the plaintiffs, stated, "The court ruled in favor of the plaintiff investors and ordered the full return of the invested funds."

Earlier, Kim and others filed a lawsuit in 2020 against Daishin Securities, claiming approximately 250 million KRW, alleging that Jang Mo, the former head of Daishin Securities Banpo WM Center, failed to properly inform them of the risk of losses in the Lime Asset Management fund.

Former Center Head Jang was prosecuted for violating the Capital Markets and Financial Investment Business Act and other charges, and in May last year, the appellate court sentenced him to two years in prison and a fine of 200 million KRW, a verdict that was upheld as final.

Daishin Securities expressed concern over the ruling, stating, "We are worried about the judgment that denies the foundation of the Capital Markets Act, which states that 'financial investment products carry the risk of principal loss and investors bear responsibility themselves,' and we have doubts about the legal reasoning. We will review the judgment after obtaining the written ruling and announce our specific position."