By Wooyoung Lee ( September 18, 2026, 10:33 GMT | Insight) -- Woori Bank opened the first appeal against South Korea’s landmark information-exchange cartel sanctions Thursday, arguing that loan-to-value, or LTV, ratios shared among major banks were neither terms of trade nor capable of restricting competition. Woori was among four banks fined a combined 272 billion won ($196 million today) by the Korea Fair Trade Commission in January in its first enforcement action against information exchange as cartel conduct. All four banks have appealed, with Woori’s case the first to reach a hearing.Woori Bank is challenging the basis of South Korea’s first cartel sanctions for information exchange, arguing in its appeal that loan-to-value, or LTV, ratios shared among major banks were neither terms of trade nor capable of restricting competition....
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