Excessive lending due to inflated real estate collateral value
A financial accident worth 24 billion won occurred at IBK Industrial Bank, and the Financial Supervisory Service began an investigation.
According to the financial sector on the 10th, Industrial Bank of Korea announced the previous day that a breach of trust worth 23.95 billion won had occurred.
It is known that this incident occurred at an Industrial Bank of Korea branch located in Gangdong-gu, Seoul, where an excessive loan was issued by inflating the value of real estate collateral.
The accident period is from June 17, 2022, to November 22, last year.
As of now, the estimated amount of damage has not been determined. The amount of collateral established during the loan process is 21.527 billion won, and if it is recovered through sale, etc., the amount of damage may be reduced.
Industrial Bank of Korea confirmed the breach of trust through its own audit and announced that it plans to take personnel action and file criminal charges against the employees involved in the accident.
Meanwhile, the Financial Supervisory Service has recently dispatched prosecutors to conduct on-site inspections regarding this incident.
(Seoul = News 1)
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