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IBK Industrial Bank of Korea headquarters in Seoul. (Photo = IBK) |
[Alpha Biz= Kim Jisun] Seoul, September 2, 2025 — IBK Industrial Bank of Korea (IBK) announced that an internal audit uncovered a misappropriation case amounting to KRW 1.899 billion (approx. USD 1.4 million). The incident involved an employee who processed refinancing loans linked to a spouse-owned company without filing the required internal conflict-of-interest report.
According to IBK’s disclosure on its official website, the employee violated internal regulations by replacing the spouse’s secondary financial institution loans with IBK loans and failing to notify the bank as required.
IBK confirmed that the full amount is secured with collateral, and therefore no financial losses are expected. The employee has been placed on suspension and referred to the disciplinary committee. The case has also been reported to law enforcement authorities for investigation.
The bank reaffirmed its commitment to strict compliance and internal controls, stating: “We take this matter seriously and will strengthen monitoring and governance measures to prevent recurrence.”
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
