Court: "KB Securities CEO Park Jeong-rim's Financial Services Commission Sanction Suspended Until 21st"

Regarding the Lime Fund incident, the suspension of duties imposed on Park Jeong-rim, CEO of KB Securities, by the financial authorities has been temporarily suspended.

At the '2017 Asia Women Leaders Forum' held on the 9th of last month at Lotte Hotel in Jung-gu, Seoul, hosted by Asia Economy, Park Jung-rim, CEO of KB Securities, is giving a lecture on the theme 'AI Era: Leadership of Communication and Responsibility Again.' Photo by Yoon Dong-joo doso7@

According to the legal community on the 8th, the Seoul Administrative Court Administrative Division 4 (Chief Judge Kim Jeong-jung) ruled in the lawsuit filed by CEO Park against the Financial Services Commission (FSC) to cancel the suspension of duties, stating that "the effect of the FSC's disposition is suspended until the 21st of this month."

This suspension decision was made to secure the period for reviewing the suspension of execution regarding the FSC's disposition, which CEO Park applied for along with this lawsuit. The FSC imposed a three-month suspension on Park on the 29th of last month, citing violations of internal control standards related to the Lime Fund incident and providing leverage funds to the fund.

On the 5th, CEO Park voluntarily resigned from his position as Head of the KB Financial Group's General Division. However, he retains his CEO position. Park's term lasts until the end of this month.