Shinhan Bank asked South Korean prosecutors to investigate Shin Sang Hoon , the president of parent company Shinhan Financial Group Co. , for alleged embezzlement.
The won rose on speculation South Korean exporters sold dollars to settle month-end bills.
South Korea’s won weakened for a third day as escalating violence in Iraq sapped demand for riskier assets.
Shinhan Bank agreed to help KazMunaiGas Exploration Production raise $500 million to build an oil-loading terminal in Kazakhstan.
South Korea’s won reversed earlier losses on speculation exporters sold the U.S. dollar to take advantage of a favorable exchange rate.
Shinhan Bank is marketing bonds denominated in U.S. dollars due July 2017 to yield between 365 basis points and 375 basis points more than similar-maturity Treasuries, a person familiar with the matter said.
South Korea’s won rose to the strongest level in almost six years as stimulus by the European Central Bank and better-than-expected U.S employment data supported demand for riskier assets.