Prosecutors Request Arrest Warrant for Former Woori Bank Head over Alleged Improper Loans

The prosecution has requested an arrest warrant for a former head of department at Woori Bank in connection with allegations of improper loans involving relatives of former Woori Financial Group Chairman Sohn Tae-seung.

[Image source=Yonhap News]

On the 26th, the Financial Investigation Division 1 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Kim Su-hong) announced that it had requested an arrest warrant for Im, a former head of department at Woori Bank, on charges of breach of trust and bribery under the Act on the Aggravated Punishment of Specific Economic Crimes.

Im, who served as the head of Woori Bank's Sindorim Financial Center and Seolleung Financial Center, is suspected of being involved in improper loans after developing a close relationship with Kim, the brother-in-law of former Chairman Sohn.

On the 24th, the prosecution indicted Kim on charges including embezzlement, forgery of private documents, and use of forged private documents under the Act on the Aggravated Punishment of Specific Economic Crimes. Kim is accused of misappropriating company funds under his wife's name, forging real estate purchase contracts acquired through the company to inflate the purchase price, and using these to obtain excessive loans from Woori Bank.

The prosecution is conducting an investigation based on the Financial Supervisory Service's inspection results, which found that from April 2020 to January this year, improper loans totaling approximately 35 billion won were granted to corporations or individual business owners related to former Chairman Sohn's relatives.

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