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2026-01-23
Special Counsel Arrests Former FSC Chief for Malfeasance
Written: 2003-05-21 00:00:00 / Updated: 0000-00-00 00:00:00
The former chairman of the Financial Supervisory Commission and president of the Korea Development Bank is under police custody. Lee Keun-young is charged with approving four hundred billion won in loans to the Hyundai Merchant Marine in June Two-thousand when he was serving as the president of the Korea Development Bank.
The independent counsel team investigating the cash-for-summit scandal said Lee was aware of the damage the loan would have on the bank.
The Hyundai subsidiary is accused of remitting 223 billion won of the loan to North Korea just days before the inter-Korean summit in June 2000.
The independent counsel team investigating the cash-for-summit scandal said Lee was aware of the damage the loan would have on the bank.
The Hyundai subsidiary is accused of remitting 223 billion won of the loan to North Korea just days before the inter-Korean summit in June 2000.
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