The four biggest financial firms in South Korea are the target of a full-blown investigation by regulatory inspectors for alleged misconduct.
Main targets are the Hana Financial Group and the KB Financial Group, both of whose former chairmen were confidants of former South Korean president Lee Myung-bak. Hana’s former chairman is alleged to have bought thousands of pieces of art with company money during his tenure and to have received “dubious incentives” worth $3.2 million.
