An employee of Woori Bank has turned himself in for allegedly embezzling about 60 billion won from the company.

Namdaemun Police Station in Seoul said they arrested the employee after he gave a confession late Wednesday night.

The bank filed a police report earlier on Wednesday after it lost contact with the employee and, finding it suspicious, belatedly uncovered the embezzlement dating back from 2012 to 2018.

The whereabouts of the money are currently unknown.

Woori Bank will conduct its own investigation while cooperating with the police probe.

The police will interrogate the individual over the location of the embezzled funds and his motive for committing the crime, with a request for an arrest warrant coming as soon as Thursday.

The Financial Supervisory Service is also looking into the case.