South Korea to Review Risky Financial Products After China-Tied Losses

(Bloomberg) — South Korea plans to review the sale of potentially high-risk investments after a probe found that banks missold China-linked structured products to retail investors who are facing more than $4 billion in losses.

“We are considering a comprehensive improvement in the system across the board with a focus on preventing such an event from happening again and will also review where those products should be allowed to be sold,” Kim Soyoung, vice chairman of the Financial Services Commission said in an interview with Bloomberg News on Tuesday.