Prosecutors indict Son Tae-seung without detention for 'unfair loans by relatives of Woori Bank'

Sohn Tae-seung, former chairman of Woori Financial Group, who is suspected of being involved in giving tens of billions of dollars in unfair loans to his relatives, has been put on trial without detention.

The Seoul Southern District Prosecutors' Office today (21st) indicted former chairman Sohn without detention on charges of illegally lending 51.7 billion won to companies run by his brother-in-law.Former Chairman

Son is accused of illegally lending 51.7 billion won to companies run by his brother-in-law Kim 23 times between September 2021 and August last year.Former chairman

Son purchased real estate with Kim with the loan and sold it again to earn market profits and received expensive cars from Kim.

84% of the loans, or 43.3 billion won, were not reimbursed, and the prosecution believed that former chairman Sohn conspired with high-ranking executives such as Woori Bank's vice president and center director to systematically give out unfair loans even though he knew there was virtually no possibility of collection.

Prosecutors began investigating in August last year after taking over the results of the Financial Supervisory Service's inspection that Woori Bank and other affiliates gave tens of billions of won worth of unfair loans to corporations or private businesses related to former chairman Sohn's relatives.