Jeongmu Committee Adopts 5 Major Bank Presidents as Audit Witnesses... Agreement Reached Including Chairman Jeong Mong-gyu

[Image source=Yonhap News]

[Asia Economy Reporter Seongpil Cho] The heads of the five major banks have been jointly summoned as witnesses for the National Assembly's Political Affairs Committee audit.

On the afternoon of the 27th, the Political Affairs Committee held a plenary session and finalized the list of 39 witnesses and 5 reference persons to be called for this year's audit. The committee decided to summon Kwon Junhak, President of NongHyup Bank; Park Seongho, President of Hana Bank; Lee Wondeok, President of Woori Bank; Lee Jaegun, President of KB Kookmin Bank; and Jin Okdong, President of Shinhan Bank as witnesses for the Financial Supervisory Service audit scheduled for the 11th of next month. They intend to question the responsibility for financial incidents such as embezzlement, misappropriation, and breach of trust occurring in banks, as well as measures to strengthen internal controls and prevent recurrence.

Witnesses related to the Lone Star incident were also selected. These include Kim Gap-yu, lead attorney of the law firm Peter & Kim who has been part of the government's legal team for the Lone Star case since 2012, and Kim Seung-yu, former chairman of Hana Financial Group who decided on the acquisition of Korea Exchange Bank.

Im Geumok, CEO of BHC Group, and Jeong Seunguk, CEO of Genesis BBQ, were included as witnesses for the Fair Trade Commission audit due to issues of franchisee exploitation and abuse of power. Thomas Klein, CEO of Mercedes-Benz Korea, was summoned to answer questions regarding compliance with the Framework Act on Consumers in handling consumer complaints, and Peter Denwood, CEO of Apple Korea, was summoned to address inquiries about abuse of market dominance in the domestic app market.

Following last year's Gwangju Hakdong disaster and the recent collapse of the outer wall of Hwajeong I-Park in Seo-gu, Gwangju, which raised concerns about the multi-tier subcontracting structure, Chung Mong-gyu, chairman of HDC Group, was also named as a witness for related questioning.

This content was produced with the assistance of AI translation services.