Prosecutors raided Woori Bank for 2nd day of 'suspected unfair loans'... "Find out additional illegal loans"

Prosecutors have been investigating Woori Bank's headquarters for two days in connection with allegations of unfair loans by former Woori Financial Group Chairman Sohn Tae-seung, and illegal loans worth billions of won have also been detected.

The Seoul Southern District Prosecutors' Office has been searching Woori Bank's headquarters in Hoehyeon-dong, Seoul, for loan-related departments, bank presidents' offices, and Woori Financial Group Chairman's offices since around 9 a.m. today (19th).

Prosecutors believed that current management, including Woori Bank President Cho Byung-kyu, did not immediately report to the financial authorities even though they were aware of the unfair loan process, and switched Cho to a suspect.

Prosecutors, who were asked to investigate by the Financial Supervisory Service, said Woori Bank gave a preferential loan worth 35 billion won to a relative of former chairman Sohn, and that additional illegal loans worth 7 billion won were identified.

The prosecution is also continuing its investigation into whether former chairman Sohn was involved in unfair loans, including a search and seizure of former chairman Sohn's home on the 11th of last month.