By Park Jin-hai
Prosecutors sought an arrest warrant for Shinhan Financial Group Chairman Cho Yong-byoung, Monday, for his involvement in hiring irregularities at the group's banking unit.
Cho, along with other former high ranking executives at Shinhan Bank, is suspected of having hired unqualified applicants, who were the children of high ranking company officials, between March 2015 and March 2017 when he was the head of the bank, according to the prosecution.
Two former officials have already been arrested on charges of providing favors in recruitment to such job applicants, who also included children of former ranking government officials.
Prosecutors believe nearly 90 people landed jobs at the bank through the irregularities practiced by the two officials.
They summoned Cho twice earlier this month for questioning over the allegations to find out how deeply he was involved.
The Seoul Eastern District Court will decide whether to issue the warrant for Cho soon.
The investigation began after the Financial Supervisory Service conducted an inspection into the suspicion and found 22 cases of hiring irregularities.
Prosecutors sought an arrest warrant for Shinhan Financial Group Chairman Cho Yong-byoung, Monday, for his involvement in hiring irregularities at the group's banking unit.
Cho, along with other former high ranking executives at Shinhan Bank, is suspected of having hired unqualified applicants, who were the children of high ranking company officials, between March 2015 and March 2017 when he was the head of the bank, according to the prosecution.
Two former officials have already been arrested on charges of providing favors in recruitment to such job applicants, who also included children of former ranking government officials.
Prosecutors believe nearly 90 people landed jobs at the bank through the irregularities practiced by the two officials.
They summoned Cho twice earlier this month for questioning over the allegations to find out how deeply he was involved.
The Seoul Eastern District Court will decide whether to issue the warrant for Cho soon.
The investigation began after the Financial Supervisory Service conducted an inspection into the suspicion and found 22 cases of hiring irregularities.
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