South Korea regulator denies rumours of troubles at two savings banks

SEOUL : South Korea's financial regulator said on Wednesday that rumours of financial troubles at two local savings banks were groundless and warned of legal action against those involved in making up and spreading the rumours.

The Financial Supervisory Service (FSS) said in email and text messages to reporters that the banks named in the rumours - Welcome Savings Bank and OK Savings Bank - had no problems.