Former Woori Bank Vice President charged with 'Suspected Unfair Loan of Son Tae-seung'

Prosecutors investigating allegations of unfair loans to former Woori Financial Group Chairman Sohn Tae-seung's relatives have handed over the former vice president of Woori Bank to trial under arrest.

The Seoul Southern District Prosecutors' Office today (18th) arrested and charged former Woori Bank vice president A, who is suspected of breach of trust under the Specific Economic Crimes Act.

Mr. A is accused of approving the unfair loan of 15.4 billion won to former Chairman Sohn's relatives and others four times from September last year to May the following year.

The prosecution is also expanding its investigation into incumbent management by confiscating Woori Financial Group Chairman Lim Jong-ryong and Woori Bank President Cho Byung-kyu's offices at Woori Bank's headquarters in connection with the "suspicious unfair loan of former Chairman Sohn's relatives."

Earlier, the prosecution launched an investigation after taking over the results of the Financial Supervisory Service's investigation that Woori Bank made 35 billion won worth of unfair loans to companies related to former chairman Sohn's relatives.