South Korea: "Banks avoid massive withdrawals as Regulators uncover illegal lending by some savings banks''

from korea herald..........

"A group of savings banks, including three suspended players, were discovered to have extended illegal loans, ranging from tens of billions of won to as much as hundreds of billions of won to their key shareholders, said officials at the Financial Supervisory Service, an arm of the FSC.

A savings bank extended loans worth 640 billion won, or nearly 70 percent of its total assets, to two urban development projects virtually linked with the savings bank".............READ MORE