South Korea's Justice Minister Choo Mi-ae said bribery claims by a key suspect in a major financial fraud investigation are being confirmed to be true.

At a parliamentary audit on Monday, Choo said a claim by former Star Mobility CEO Kim Bong-hyun that a prosecutor he bribed was placed in charge of the probe into his case was found to be true in an internal audit.

The minister said both an investigation and audit will be conducted into allegations that Prosecutor General Yoon Seok-youl only focused on looking into the ruling camp's alleged involvement in the financial fraud.

Asked about the reason behind a decision to abolish the prosecution's team specializing in security crimes that investigated the case, Choo claimed that collusive ties between prosecutors, investigators and prosecutor-turned-lawyers were rampant.