Investigation on Ban Accounts is Matter of FSS’s Will

On the 7th, the labor union of Financial Supervisory Service (FSS) announced statement about the scandal of transferring of fund to North Korea “the investigation on bank account by FSS is a lawful action and the investigation is matter of FSS’s will” and showed a frontal rebuttal against Lee Kun-young of the president of FSS “Impossibility of the investigation on bank account”

The union demanded at that day “President Lee should solve the scandal by special investigation on the scandal because he is suspected as ex president of Industrial Bank for number of scandals, or resign by himself”

Additionally, the union insisted “ whether Hyundai Shipping supported the subsidies or transferred the fund is not our primary concern, but investing on Industrial Bank and solve the matter is our obligation”

However, Lee President announce in higher rank meeting “ the purpose of Financial Transaction in Real Name System is to protect citizen’s basic rights. So the system should not be analyzed for abusing at any circumstance” and showed the intention not to investigate.

Chun Yun-chul, Vice Premier & Minister of Finance and Economy, added “ 400 billion borrowed by Hyundai Shipping was legal loan for business operation and there is no doubt” and insisted “ as far as there is no clear evidence, investigation on bank accounts of Hyundai Shipping is impossible”

However, many person in law and financial society commented ▽there is an exception phase in the regulation of Financial Transaction in Real Name System ▽Hyundai Shipping is under suspected of window dressing ▽ public interesting with investigating the details of loan by Industrial Bank should be emphasized rather than protecting privacy of account.

On the other hand, the union of FSS announced that Lee President revenged in the first internal promotion since his inauguration against the staffs who had involved in the investigation on Industrial Bank. About that, FSS said, “it is nonsense”

Kwang-Hyun Kim Dong-Won Kim kkh@donga.com daviskim@donga.com