30 billion illegal loans due to overblown solar construction...54 prosecuted

The Daejeon District Prosecutors' Office handed over 54 contractors and power generation businesses without detention on charges of inflating the construction cost of solar power facilities and taking out 30.5 billion won worth of illegal loans using false bills and tax invoices.

They are accused of taking out illegal loans by inflating construction costs using government projects to fund long-term and low-interest solar power facilities for more than three years from August 2019.

Through this, they have been operating the solar energy business through illegal loans without paying at all, even though construction loans are only available up to 70-90%.