Gyeongnam Bank Confirms Embezzlement Through Employee Forgery of Private Documents... Investigation Requested

Gyeongnam Bank has reported an employee's illegal activities committed during work to investigative authorities.

Gyeongnam Bank confirmed that during its own monitoring, it detected that an employee embezzled and misappropriated 56.2 billion KRW related to PF funds through illegal methods, reported the matter to the Financial Supervisory Service, and filed a complaint with investigative agencies.

The incident was discovered during Gyeongnam Bank's self-monitoring process conducted to proactively strengthen internal controls and prepare for the expanding risks in the real estate market.

Illegal acts such as forgery and alteration of private documents by the responsible employee were confirmed, and collusion with outsiders is also suspected, with further investigations by authorities currently underway.

Gyeongnam Bank immediately excluded the employee from work and is swiftly taking measures to preserve claims, such as provisional seizure of real estate and deposits related to the parties involved, through a law firm to minimize damages.

A Gyeongnam Bank official stated, “We apologize for causing concern to our customers and local residents due to this unfortunate incident. We will take all possible measures to ensure that there is no harm to customers and local residents related to this case, and we will fully cooperate with the investigations by the Financial Supervisory Service and investigative authorities to resolve the situation.”

He added, “To prevent recurrence of such incidents, we will further strengthen internal controls and maintain awareness of the impact of employees' deviant behavior on the bank, striving to become a trusted bank.”

After detecting the incident, Gyeongnam Bank has strengthened ethics education for all employees by holding on-site meetings and plans to implement intensive additional measures such as system improvements by establishing an internal control analysis team.

Meanwhile, Gyeongnam Bank has focused on asset soundness management and maintained a delinquency rate of 0.32% in the second quarter, ranking among the top levels among regional banks.

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