IBK suspends branch head for receiving money
By Kim Bo-eunThe Industrial Bank of Korea's headquarters in central Seoul. / Korea Times fileThe state-run Industrial Bank of Korea (IBK) is in the hot seat after a series of misconduct incidents involving its employees. In the latest case, a branch head was found to have received tens of millions of won from a customer in exchange for providing convenience in services.According to the bank's inspection records from Rep. Yun Chang-hyun of the opposition People Power Party, the head of a branch in North Gyeongsang Province who served in the position through June was suspended for three months after the bank found he had received around 20 million won from a customer. The money was sent to the branch head's IBK account and used for personal purposes. IBK said it looked into the case after a tip-off and that the suspension was imposed on Aug. 31.This is not the first time an IBK staff member has engaged in misconduct.Last month, IBK found that an employee of a business branch in Hwaseong, Gyeonggi Province, illicitly secured 7.6 billion won in loans for himself through family members to
