[Apha Biz=(Chicago) Reporter Paul Lee] Kim Jong-min of the Democratic Party of Korea pointed out during a parliamentary audit of the National Assembly's National Policy Committee on the 11th that "Kim Jin-young, president of Hi Investment & Securities, drove KRW 15 trillion in commercial paper (CP) and flyer bond (electronic short-term bond) transactions to Heungkuk Securities, where my son works as a CP broker."

In this regard, Hong Won-sik, CEO of Hi Investment & Securities, said, "We are conducting an audit now," and added, "We are thoroughly investigating." "15 trillion won costs tens of billions of won to go into the party in light of a 0.11 percent commission, which is a complete corruption," Rep. Kim said. "There is a hole in the internal control of Hi Investment & Securities."

Lawmaker Kim also claimed that Hi Investment & Securities had a "breakdown" to purchase 2 billion won worth of bad loans on the condition that it would give loans to real estate project financing (PF) owners. CEO Hong countered, "In the past, there was a practice of giving out loans and receiving deposits from commercial banks or savings banks before 2010, but now this is not the case in the primary financial sector."

Hi Investment & Securities is a securities company affiliated with DGB Financial Group. During the parliamentary audit of the National Policy Committee, both the chairman of the financial holding company and the heads of the bank were excluded from witnesses and witnesses, but many lawmakers related to DGB Financial affiliates pointed out.

Rep. Kim Sung-joo of the Democratic Party of Korea asked if DGB Daegu Bank, which caused the illegal account opening scandal, had any problem converting into a commercial bank.

 

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