S. Korea's pension fund chief offers resignation amid losses
SEOUL, Sept 11, 2009 (Asia In Focus via COMTEX) --
Company: Woori Bank
(HNVTF)
The head of South Korea's
pension fund offered to resign Friday amid accusations that he
caused heavy losses to a state-run bank years ago when he was
its chairman. Park Hae-choon, president of the National Pension
Service (NPS), delivered his resignation to Health Minister
Jeon Jae-hee, who supervises the nation's largest institutional
investor, according to fund officials.
* No clear reason for his resignation was given but the move
comes after Park was accused of causing heavy losses to Woori
Bank through failed derivative investment when he was chairman
of the state-run bank.
* He headed Woori between 2007 and 2008.
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News Provided by COMTEX
Company: Woori Bank
(HNVTF)
Related terms: bank, health, investment, korea, president, resignation, south korea
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