S. Korea bank chief found dead in apparent suicide

The head of a major South Korean savings bank was found dead Friday in an apparent suicide after investigators raided his office as part of a probe into illegal dealings at several banks, police said.

Jeong Gu-Haeng, president of Seoul’s Jeil 2 Savings Bank, appeared to have jumped from his office on the sixth floor of the bank’s Seoul headquarters, a police officer told AFP.

“It is true that he jumped to his death,” the officer said, adding the scene had been sealed off. Television footage showed investigators covering Jeong’s body with a piece of white cloth.

The apparent suicide followed a raid by prosecutors, police and bank regulators of seven savings banks including Jeil, in connection with possible irregularities by their executives and major shareholders.

“We are focusing on confiscating materials on excessive loan extensions, improper lending to shareholders and unhealthy loans, which the banks were accused of issuing,” an unnamed investigator told Yonhap news agency.

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