The Busan Bank Co., Ltd.
Location
Busan
Founded
1967-11-29
Website
Risk Signals
1340 news mentions monitored
Industry Context
This company is tracked across risk categories, including those related to its sector (e.g., Commercial Banks, Not Elsewhere Classified), including supply chain integrity, ESG practices, labor disputes, and regulatory compliance.
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Recent Articles about The Busan Bank Co., Ltd.
Live alerts from global media, monitored by Business Radar
![[Market+] Record-high embezzlement from local banks... “It will get better if the executive director’s responsibility is strengthened.”](https://images.businessradar.com/articles/7813da6b-2227-45d5-9ee8-7553de8b2f8a)
(businessplus.kr)
[Market+] Record-high embezzlement from local banks... “It will get better if the executive director’s responsibility is strengthened.”
The number of financial accidents detected at local banks last year nearly doubled compared to the previous year. Inadequate internal control was revealed through large and small accidents ranging from breach of trust and bribery worth less than 1 billion won to historic embezzlement worth hundreds of billions of won. In particular, the need for internal control management is increasing for local banks due to vulnerabilities in their internal control systems resulting from cultural characteristics. Accordingly, attention is focused on whether improvements will be made through the implementation of the amendment to the Financial Company Governance Act in the second half of this year. ◇ Last year, there were 11 financial accidents at six major local banks... According to the other status report of each bank announced to the Korea Federation of Banks on the 18th, 5 cases compared to the previous year, last year, BNK Busan/Gyeongnam Bank, DGB Daegu Bank,
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(ebn.co.kr)
Bedaein has a long way to go, from embezzlement to bribery... will it be okay like this?
Inadequate internal control of Busan and Gyeongnam Banks has emerged. Organizational reorganization and personnel changes have been carried out to prevent financial accidents. “It is important to restore the lost trust of local residents.” Following the embezzlement incident at Gyeongnam Bank, a bribery incident occurred at Busan Bank, and the management ability of the chairman of BNK Financial Group, a poor person, was weakened. There are voices of concern. There is interest in whether 'Bindae In-ho', who has had an eventful first year in office, will be able to resolve internal control issues and lead to a rebound in performance next year.
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