Permanent Special Prosecutor Executes Search Warrant on Shinhan Bank Over Alleged Disposal of Bundled Currency Bands

Special Prosecutor: "Verifying Information and Handling Process of Bundled Currency Note Bands"

Ahn Kwonseop, the Special Prosecutor investigating allegations of covering up the Coupang investigation and unpaid severance pay, is arriving at the permanent special prosecutor's office in Seocho-gu, Seoul, on December 31 last year.

The permanent special prosecutor team led by Ahn Kwonseop has launched a search and inspection of Shinhan Bank in connection with the alleged disposal of banknote bands related to bundled currency notes.

Starting at 9:30 a.m. on January 9, the special prosecutor's team executed a search and inspection warrant at the Gangnam annex of Shinhan Bank in Gangnam-gu, Seoul. The execution of the warrant involved Special Prosecutor Kwon Dohyeong, Deputy Chief Prosecutor Han Judong, and six investigators.

The special prosecutor's team explained, "This execution of the warrant aims to verify all information related to Shinhan Bank's currency bands and to clarify the handling process of bundled currency notes (used notes) after they are received by commercial banks."

Recently, the team also conducted a search and seizure of the Information and Communications Department of the Supreme Prosecutors' Office to secure internal messenger records related to the bundled currency note case.

Previously, in December 2024, the Southern District Prosecutors' Office searched the residence of Jeon Seongbae, known as Geonjin Bopsa, and seized bundles of cash, including 50 million won worth of Bank of Korea bundled currency notes. However, they were unable to identify the source of the cash and subsequently transferred the case to the special prosecutor team led by Min Junggi, which is investigating various allegations involving First Lady Kim Keonhee. The Southern District Prosecutors' Office lost the bands and stickers containing information such as the inspection date, responsible staff, and department of the cash bundles, and explained that the bands and stickers were lost during the cash counting process by an employee.

In response, Minister of Justice Jeong Seongho ordered a high-intensity investigation in July last year, including an inspection to determine the facts and identify those responsible. The Supreme Prosecutors' Office immediately launched an inspection, then proceeded with an investigation to ascertain the facts. In October last year, the Supreme Prosecutors' Office reported to the Ministry of Justice that, while there was practical negligence in the management process of the bundled currency notes, there was no order from higher-ups to conceal evidence.