The prosecution investigating NongHyup's 'illegal loan allegations' is conducting a search and seizure at NongHyup and the borrower company on the 6th.
The Anti-Corruption Investigation Division 1 of the Seoul Central District Prosecutors' Office (Director General Lee Jun-dong) noted that it has been conducting a search and seizure of NongHyup and the borrower company, Company A, since the morning. Company A is suspected of having received illegal loans from NongHyup.
These allegations surfaced during the National Assembly audit in 2023. At the core of the allegation is that NongHyup approved a loan worth over 10 billion won to Company A Holdings even though the credit guarantee fund certificate for construction cost loans had not yet been issued. Company A Holdings, which focuses on the construction industry, is the holding company of Company A.
The prosecution is said to be conducting the search and seizure to understand the process of the illegal loans.