‘Unfair loan suspicions’ expand to all affiliates
Loans of up to 2 billion won from card capital, etc.
As the 35 billion won in unfair loans to relatives of former Woori Financial Group Chairman Son Tae-seung were revealed, it was revealed that not only Woori Bank but also Woori Financial Savings Bank had made loans to corporations related to the former chairman’s relatives. Woori Financial is currently reported to have received reports that related loans were made to affiliates including Woori Financial Savings Bank, Woori Card, and Woori Capital. It appears that suspicions of unfair loans are spreading beyond Woori Bank to all affiliates.
According to the data submitted by Woori Financial Savings Bank to Rep. Shin Jang-sik of the Democratic Party of Korea, a member of the National Assembly’s Political Affairs Committee, on the 30th, Woori Financial Savings Bank lent 700 million won to a corporation related to former Chairman Son’s relatives in January. As of the 27th, the loan balance was 683 million won. This is an amount that was not included when the Financial Supervisory Service announced on the 11th that Woori Bank’s total loans related to former Chairman Son’s relatives amounted to 61.6 billion won, of which 35 billion won was improper loans.
Woori Financial Group is known to have reported to the Financial Supervisory Service that it had received information from three institutions, including Woori Financial Savings Bank, Woori Card, and Woori Capital, that there were loan balances of up to 2 billion won related to former Chairman Sohn’s relatives.
The Financial Supervisory Service plans to conduct on-site inspections at three locations in the near future to confirm this. The Financial Supervisory Service believes that unfair lending may have been made to other financial affiliates as well, and has requested a large-scale audit of Woori Financial Group.
Reporter Jeon Ju-young [email protected]
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2024-09-01 06:03:43