Consecutive Financial Accidents at Suhyup... Scale Growing Larger

Criticism has been raised that financial accidents involving billions of won have occurred consecutively at Suhyup Bank and Suhyup's credit cooperatives, with the scale growing increasingly larger.

According to data submitted by the National Federation of Fisheries Cooperatives to Representative Kim Sun-kyo of the People Power Party, a member of the National Assembly's Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee, on October 18, the total number of financial accidents at Suhyup Bank and Suhyup credit cooperatives over the past five years (2021–2025) reached 38 cases, amounting to 20.061 billion won.

Representative Kim pointed out, "The repetition of large-scale financial accidents means that internal control systems are effectively failing to perform their roles," adding, "We need to move away from belated responses that clean up after an accident occurs and actively prepare fundamental measures to strengthen management and supervision systems in vulnerable areas."

In particular, accounts used in or damaged by financial frauds such as voice phishing were found to be increasing significantly each year at Suhyup Bank.

The number of accounts confirmed by Suhyup Bank as damaged accounts was tallied at 1 in 2023, 4 in 2024, 36 last year, and 85 as of September of this year.

The amount of damage surged from 800,000 won in 2023, 92 million won in 2024, and 206 million won last year to 928 million won through September of this year.

This is an increase of more than ten times compared to 2024.

(Photo provided by Sh Suhyup Bank, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.