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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] South Korean police have uncovered additional allegations of fraudulent loans involving the brother-in-law of Sohn Tae-seung, former chairman of Woori Financial Group.
According to the Seoul Metropolitan Police Agency’s Financial Crimes Unit, Mr. Kim—Sohn’s brother-in-law—was referred to the Seoul Southern District Prosecutors’ Office on June 18 on charges including fraud under the Act on the Aggravated Punishment of Specific Economic Crimes.
Kim is accused of inflating property values to secure 4 loans totaling KRW 4.7 billion (approx. USD 3.4 million) between 2021 and 2022, using a mixed-use property in Seoul’s Gwanak District as collateral. He is already on trial for allegedly obtaining over KRW 51.7 billion (approx. USD 38 million) through 23 fraudulent loans between September 2021 and August 2023.
Woori Bank previously filed a complaint with the Yeongdeungpo Police Station regarding the 23 suspected fraudulent loans. The latest allegations sent to prosecutors were reportedly part of the initial complaint but were not acted upon by police at the time.
A prosecution official noted that although police did not respond to an earlier request for referral, the newly surfaced allegations were not omitted from the formal indictment.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
