Former Headquarters Chief Lim Admits to Charges
Former Woori Financial Group Chairman Sohn Tae-seung, who was indicted on suspicion of improper loans at Woori Bank, denied the charges.
Former Woori Financial Group Chairman Sohn Tae-seung is attending the first trial of the 'Woori Bank Unfair Loan Allegation' held at the Seoul Southern District Court in Sinjeong-dong, Yangcheon-gu, Seoul on the 11th. Photo by Yonhap News
The Seoul Southern District Court Criminal Division 15 (Presiding Judge Yang Hwan-seung) held the first trial on the afternoon of the 11th for Sohn and others, who were indicted on charges including breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes.
Sohn's side did not present their position on the charges as they were not granted permission by the prosecution to review or copy the investigation records. In the first trial, the prosecution explains the criminal charges, and the defendant's side states whether they admit to the charges.
After the trial, Sohn's lawyer stated, "We do not fully confess or admit to all the charges."
Kim, Sohn’s brother-in-law, who was identified as conspiring in the improper loans, denied the charges, while former Woori Bank headquarters chief Lim admitted to the charges.
Sohn was indicted without detention on the 21st of last month on suspicion of illegally providing loans totaling 51.745 billion KRW in 23 installments from September 2021 to August 2023 to a company operated by his brother-in-law Kim.
It is known that Sohn purchased real estate with Kim using the loan money and resold it to gain capital gains, and also received a luxury car from Kim. Of the loan amount, 43.3 billion KRW has not yet been repaid.
The next trial is scheduled for April 1.
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