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Prosecutors raid Shinhan Asset Trust office in employee bribery investigation

Published: 16 Apr. 2025, 16:58 Updated: 16 Apr. 2025, 17:38

Supreme Prosecutors' Office building in southern Seoul [NEWS1]

Prosecutors raided Shinhan Asset Trust and its current and former employees, who are suspected of accepting bribes worth hundreds of millions of won in connection with trust operations on Wednesday.

The Seoul Central District Prosecutors’ Office dispatched prosecutors and investigators to conduct a search and seizure operation at the company’s office in Gangnam District, southern Seoul, according to the legal sources.

There have also been reports that an operation was also carried out at the office of another real estate trust in Yeouido, western Seoul, where a former Shinhan Asset Trust employee currently works.

Prosecutors believe employees of Shinhan Asset Trust received bribes and facilitated loans while handling trust operations between 2020 and 2023. The investigation was launched following a formal complaint filed by the Financial Supervisory Service.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.

BY JEONG JAE-HONG [[email protected]]