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During the 2008 financial crisis, our SMEs suffered a great deal as exchange rates rose significantly. Kikora said the bank was forced to reimburse banks for failing to inform the risks of the product at the time, according to the FSS.

For more information, reporter Son Hyung-an will deliver.

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Kiko is a derivative financial instrument to reduce the losses caused by exchange rate fluctuations.

The banks have been actively marketing and have contracted with more than 900 exporters in the short term since 2007.

However, it turned out that the minimum obligation for selling derivatives was not met.

In particular, the Financial Supervisory Service found that it was incomplete sales, which did not inform the company that the loss could rise rapidly beyond certain conditions.

[Kim Sang-Dae / Financial Supervisory Service, Director of Dispute Resolution 2: Given the fact that the risks could not be clearly understood by the company, the bank cannot fulfill its duty to protect customers. ]

As the exchange rate soared during the actual financial crisis, there were a lot of losses in the Kiko contract, and there were several cases where companies were unable to regenerate.

It is estimated that the total damage amounted to more than 730 trillion won.

The FSS analyzed six of these companies and advised six banks to reimburse 15 to 41 percent of their losses.

Shinhan Bank's compensation amount is the highest with 15 billion won, followed by Woori Bank's 4.2 billion won and KDB's 2.8 billion won.

The victims welcomed the 11-year reimbursement counsel.

[Cho Bung-gu / Kiko Joint Measures Committee Chairman: (Today's FSS results) I thought it was significant, so we decided to accept it. The bank took this opportunity to take advantage of the metastasis. ]

The FSS also plans to induce dispute resolution for the remaining Kiko victims through self-adjustment with the bank.

(Video coverage: Jo Jung-young, Video editing: Kim Jong-tae)