Improper Loans Worth 170 Billion Won Uncovered at Saemaeul Geumgo in Seongnam
Police have launched an investigation after improper loans totaling approximately 170 billion won were discovered at a Saemaeul Geumgo branch in Seongnam, Gyeonggi Province.
According to investigative authorities on May 2, the Anti-Corruption and Economic Crime Investigation Unit of the Gyeonggi Nambu Provincial Police Agency has booked real estate developer A and Saemaeul Geumgo employees without detention on charges including violations of the Saemaeul Geumgo Act and breach of trust in the course of duty. They are currently under investigation.
A is suspected of conspiring with Saemaeul Geumgo employees in Seongnam, Gyeonggi Province from 2019 to 2024 to create shell corporations and obtain improper loans totaling approximately 170 billion won.
The Saemaeul Geumgo Federation detected signs of these illegal loans last year and reported those involved to the police.
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The police stated, "We cannot disclose further details as the investigation is ongoing."
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