[Alpha Biz=(Chicago) Reporter Kim Jisun] Sangsangin filed a lawsuit for the cancellation of the order on the 27th against the Financial Services Commission's decision to issue an order to maintain the eligibility of major shareholders and dispose of its shares.

Earlier on October 5, the Financial Services Commission notified Sangsangin Savings Bank and Sangsangin Plus Savings Bank of their stock disposal order. It ordered the disposal of 11.34 million shares of Sangsangin Savings Bank and 5.78 million shares of Sangsangin Plus Savings Bank by April 4 next year.

The Financial Services Commission ordered the sale of the rest of the savings bank shares, excluding 10% owned by major shareholders, within six months. Sangsangin owns 100% of Sangsangin and Sangsangin Plus Savings Bank.

Yoo Joon-won, CEO of Sangsangin, the de facto owner of the two savings banks, filed a lawsuit to cancel the order on the same day, although he had to dispose of his Sangsangin stake.

Sangsangin is in the process of selling Sangsangin Savings Bank and Sangsangin Plus Savings Bank separately from the administrative litigation of this administrative disposition.

 

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