Deposit insurance corp. investigates employees at Busan savings bank’s SPC
Published : Jun 8, 2011 - 21:16
Updated : Jun 8, 2011 - 21:16

The Korea Deposit Insurance Corporation is investigating some 570 employees at a special purpose company of the distressed Busan savings bank group to find out whether they are responsible for its financial troubles, officials said Wednesday.

It has also discovered some 4,000 real estate properties owned by the employees and plans to seize them should they be found to have committed any wrongdoings that contributed to the suspension of its mutual savings bank.

Investigative authorities have been accelerating its probe into a major corruption scandal involving financial regulators and seven savings banks whose operations were suspended for their capital shortages by the state financial regulator earlier this year.