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South Korean regulator to penalize Samsung Securities over dividend error

South Korea's Securities and Futures Commission under the Financial Services Commission approved a 144 million won fine on Samsung Securities Co. Ltd. over a dividend mishap in April, which paid share dividends to employees instead of cash dividends, The JoongAng Ilbo reported July 5.

The regulatory review was a follow-up to the Financial Supervisory Service's sanctions recommendation in June.

The FSC will later finalize the fine and institutional and personnel sanctions, including sanctions against CEO Koo Sung-hoon and other top executives.

As of July 4, US$1 was equivalent to 1,116.27 South Korean won.