[KNN News] Saemaul Geumgo’s mismanagement of the situation is making matters worse

On the second day since an employee of Miryang Susan Saemaul Geumgo was arrested on charges of embezzlement, the counters are packed with customers trying to withdraw their deposits. So far, about 500 customers have withdrawn their deposits, and 17 billion won, or 1/3 of the total, has been withdrawn. As the waiting line continues, they are even handing out number tags. The suspect accused of embezzlement is Mr. Park, 46, an executive. He was in charge of managing customer deposits by entrusting them to commercial banks. He embezzled all 9.4 billion won in deposits in one of these banks. He transferred the money to his and his wife’s accounts 31 times over the past three years. He invested most of the embezzled money in stocks, losing over 6 billion won. The central association of credit unions, which was supposed to manage the money, did not know about this. They say that they didn't even check that money was continuously being withdrawn from the account without permission. The audit that is done once every two years was also sloppy. They believed the forged documents that Mr. Park submitted without checking them. "The police have applied for an arrest warrant for Mr. Park on charges of embezzlement, etc. and are investigating additional crimes. This is Joo Woo-jin from KNN."