[Exclusive] IBK loan scandal

[Anchor]

Recently, it was revealed that Industrial Bank of Korea(IBK) was involved in an improper loan scandal worth 20 billion won.

While IBK initially described it as a violation of lending regulations, an investigation uncovered that many of the loans were linked to the relatives of internal employees.

The case shares similarities with the Woori Bank loan scandal.

This is a report by reporter Choi In-young.

[Report]

This is a marine leisure complex in Siheung, Gyeonggi Province, which has been under development for seven years.

It has partially opened, but many units remain vacant.

[Nearby Merchant/Voice Altered: "Development is happening, but it seems like we will have to wait a bit longer for noticeable improvements."]

This place was developed in the form of project financing.

Recently, unsold units have been piling up, and the issue has now expanded into IBK’s improper loan scandal.

Some construction companies borrowed over 20 billion won to build buildings that have subsequently remained unsold, and in the meantime, the loan maturities have come due.

There were insufficient reasons to extend the maturity, but the loans were renewed.

Behind this was an executive who was responsible for reviewing large loans.

It was investigated that he processed the loans citing "great growth potential" after receiving a request from a retired employee who was a colleague.

Including this executive, four individuals confirmed to be involved are all on standby orders.

[IBK Official/Voice Altered: "(When was the branch manager replaced?) Recently, about a month or two ago. Since this is an ongoing matter, it's difficult to comment..."]

But this was not the only improper loan case involving the official.

This time, relatives were involved.

Two years ago, while working as a branch manager, he approved a loan of several billion won in the name of a woman, who was actually a close relative.

The loan exceeded the limit, and there were loans that did not match the intended use.

The unsold PF and loans involving relatives have continued for over two years, and it is uncertain how much will be recovered.

IBK stated that it discovered the issue internally and reported it to the relevant authorities, emphasizing that its internal control system is functioning properly.

The Financial Supervisory Service has also detected signs that some employees have gained personal benefits and is tracking bank accounts.

The Financial Supervisory Service has extended the inspection period, which was supposed to end today (1.21).

This is KBS News, Choi In-young.