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Former Woori Financial Group Chairman Son Tae-seung. (Photo: Yonhap News) |
[Alpha Biz= Reporter Kim Jisun] A former Woori Bank executive, Im, has been indicted while in custody for allegedly facilitating fraudulent loans involving the brother-in-law of Son Tae-seung, the former chairman of Woori Financial Group.
On October 15, the Financial Crime Investigation Division of the Seoul Southern District Prosecutor’s Office announced the indictment of Im on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes, including breach of trust and bribery.
Im, who previously served as the head of Woori Bank's Sindorim and Seolleung Financial Centers, is accused of providing improper loans after building a close relationship with Kim, the brother-in-law of Son.
The investigation follows a report from the Financial Supervisory Service, which revealed that Woori Bank had issued 35 billion won (approximately $260 million) in improper loans to corporations and individual business owners linked to Son’s relatives between April 2020 and January 2024.
Prosecutors are now investigating whether Son or other members of Woori's management were aware of or involved in the loans.
Last month, Kim, Son's brother-in-law, was also indicted for allegedly embezzling funds through his wife's company and inflating property prices to obtain excessive loans.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
