S. Korea bank chief found dead in apparent suicide

The head of a major South Korean savings bank was found dead Friday in an apparent suicide after investigators raided his office as part of a probe into illegal trading activities, police said.

Jeong Gu-Haeng, president of Seoul's Jeil 2 Savings Bank, appeared to have jumped from his office on the sixth floor of the bank's Seoul headquarters, a police officer told AFP.

"It is true that he jumped to his death," the officer said, adding the scene had been sealed off by police.

Television footage showed investigators covering his body with a piece of white cloth outside the bank's building.

The apparent suicide followed a raid by prosecutors, police investigators and bank regulators of seven savings banks, including Jeil, in connection with possible irregularities by their executives and large shareholders.

Financial regulators at the weekend suspended the seven banks for six months because of their poor financial condition caused by reckless investment in risky property projects.

AFP

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