[2023 National Audit] Political Affairs Committee to File Charges Against KB Financial Group Chairman for Witness No-Show

[Image source=Yonhap News]

On the 27th, the National Assembly's Political Affairs Committee decided to pursue a criminal complaint against Yoon Jong-kyu, Chairman of KB Financial Group.

Chairman Yoon was originally approved as a witness to appear that day regarding issues such as embezzlement and internal control failures. However, he submitted a letter of absence citing overseas investor relations (IR) activities as the reason for not attending.

Both ruling and opposition parties suspect that Chairman Yoon changed his business trip and return schedule after being selected as a witness, raising suspicions of a "attendance avoidance" trip. They agreed to decide on whether to file a complaint at the next full Political Affairs Committee meeting.

Kim Jong-min, the opposition party's secretary from the Democratic Party of Korea, said during the comprehensive audit, "If a new schedule was created to avoid testimony at the National Assembly inspection, we must strictly raise the issue according to the National Assembly Act, so the ruling and opposition party secretaries reached an agreement to file a complaint."

He added, "Besides Chairman Yoon, there are several other absent witnesses such as the CEO of Hyundai Construction, and there are also witnesses related to perjury. We will gather these cases and decide at the next full meeting."

Yoon Han-hong, the ruling party secretary from the People Power Party, also stated, "Chairman Yoon's letter of absence itself is a lie," adding, "It was not a pre-planned business trip, and the process of changing the trip plan after being selected as a witness has been fully identified. We will also include internal collaborators who conspired in the absence strategy in the complaint or investigation request at the next full meeting."

The day before, demands from both ruling and opposition lawmakers to file a complaint against Chairman Yoon continued. Kang Min-guk of the People Power Party issued a statement calling it a "deliberate overseas stay to avoid the National Assembly inspection." Min Byung-duk of the Democratic Party also argued, "They are disregarding the National Assembly and the people. The Political Affairs Committee must restore the dignity of the National Assembly."

According to the Act on Testimony, Inspection, and Appraisal in the National Assembly, a witness who fails to appear at a state audit without justifiable reason may face imprisonment of up to three years or a fine between 10 million and 30 million won.