The Korea Herald


KB Tokyo branch worker found dead amid probe

By Kim Yon-se

Published : Dec. 17, 2013 - 19:57

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A male Korean employee at KB Kookmin Bank’s Tokyo branch allegedly committed suicide amid a probe by the two countries into the lender’s wrongdoings, according to financial industry sources on Tuesday.

KB Kookmin Bank and its parent company KB Financial Group have dispatched a group of executives to the branch to confirm the facts and background information surrounding his death, while Japanese police reportedly have yet to verify whether the incident was a suicide.

A former manager of the branch was caught by the Korean financial authorities in September over the dubious issuance of loans worth 170 billion won ($162 million) during the former administration of Lee Myung-bak.

Further, regulators have uncovered a series of irregularities involving KB Kookmin Bank’s conduct at home and abroad, including embezzlement, money laundering, unauthorized lending and overcharging loan interest.