Kim Chan-kyung

By Kim Tae-jong

Kim Chan-kyung, chairman of Mirae Savings Bank, was caught while trying to sneak out of the country late Thursday, just two days before the financial regulator suspended business operations of his bank along with three other secondary lenders, according to police.

He is also facing breach of trust charges as he was found to have withdrawn 20 billion won from the bank the same day ahead of his attempted flight, hours before account holders rushed to branches upon the news that the bank would be subject to suspension.

Kim was apprehended at the port of Gungpyeong, Gyeonggi Province,, at around 8:30 p.m., Immigration officials said.

They said he had tried to smuggle himself into China on a cargo ship in an obviously desperate attempt to avoid the prosecutors’ investigation and possible punishment over alleged irregularities including bribery and illegal loans.

He was originally told to present himself to an audit committee at the Financial Supervisory Service (FSS) on Friday to make his final statements on the regulator’s decision.

His attempt is illegal as executives and major shareholders of troubled savings banks have been forbidden from leaving the country since the financial regulator launched an audit on them last year.

He was handed over to prosecutors Saturday, and they are expected to seek an arrest warrant for him. The prosecution will launch a separate investigation into the four banks to see if they have been involved in any irregularities.