KB Kookmin Bank Reports 3.9 Billion Won Financial Incident...Corporate Loan Fraud

KB Kookmin Bank experienced a financial incident involving 3.9 billion won.

KB Kookmin Bank announced on the 6th that a financial incident involving approximately 3.9 billion won occurred during the process of issuing corporate loans.

According to KB Kookmin Bank, during an internal inspection at a branch, it was discovered that in June of last year, a corporate CEO and others submitted falsified documents used for corporate credit evaluation, deceived the bank, and subsequently received loans.

The expected loss amount has not yet been determined, but the bank estimates that about 3 billion won of the incident amount can be recovered through collateral.

The bank plans to file criminal charges for fraud against the corporate CEO and others involved in this incident.