A total of 171.6 billion won in unauthorized loans has occurred at the Saemaul Geumgo, prompting police to launch an investigation.
According to the investigation authorities on the 2nd, the Anti-Corruption and Economic Crime Investigation Unit of the Gyeonggi Southern Provincial Police Agency has placed real estate developer Mr. A and employees of the Saemaul Geumgo under investigation for violations of the Saemaul Geumgo Act and breach of duty, among other charges.
Mr. A is accused of conspiring with employees of the Saemaul Geumgo in Seongnam, Gyeonggi Province, from 2019 to 2024 to create a shell corporation and obtain unauthorized loans amounting to over 170 billion won.
Last year, the National Saemaul Geumgo Federation detected signs of these illegal loans and reported the individuals involved to the police.
The police noted, 'We cannot disclose further details as the investigation is ongoing.'