Former Taekwang Chairman Kim Ki-yu Dismisses Arrest Warrant for 'Suspected 15 Billion Unfair Loans'

Kim Ki-yu, former chairman of Taekwang Group Management Council, who is accused of conspiring to make unfair loans worth 15 billion won to acquaintances, has escaped arrest.

The Seoul Western District Court rejected the arrest warrant for former chairman Kim, who is suspected of breach of trust, saying there is no possibility of running away or eliminating evidence.

Earlier, former chairman Kim avoided giving a detailed answer to reporters' questions about whether he would admit the charges after questioning the suspect before his arrest.

Kim is accused of lending about 15 billion won from a savings bank affiliated with Taekwang Group in August last year at the request of A, the head of a real estate development company he knew.

Mr. A, who asked former chairman Kim to lend money, and the CEO of a savings bank at the time of implementing it, have already been indicted and are on trial.

Kim is also under prosecution investigation for mobilizing affiliates to raise billions of won in slush funds with Lee Ho-jin, former chairman of Taekwang Group.

Reporter for shooting
: Lee Geunhyuk