South Korea's KEB Hana Bank filed a lawsuit with the Seoul Administrative Court against regulators' decision to impose penalties on the bank for misselling derivatives-linked funds, Yonhap News Agency reported June 1, citing industry sources.

The country's Financial Services Commission in March imposed 16.78 billion won and 19.71 billion won fines on the Hana Financial Group Inc. unit and Woori bank, respectively, along with six-month partial business suspensions for both banks. It also issued warnings to current Hana Financial Group Vice Chairman and former KEB Hana Bank President Ham Young-joo and current Woori Financial Group Inc. Chairman and former Woori Bank President Son Tae-seung.

Son filed a personal lawsuit with the Seoul Administrative Court and won an injunction in March. Ham followed suit on June 1, filing a petition with the Seoul Administrative Court for an injunction, according to the report.

As of June 1, US$1 was equivalent to 1,224.62 South Korean won.