ID :
185994
Thu, 06/02/2011 - 07:56
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Shortlink :
https://oananews.org//node/185994
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GNP floor leader calls for full probe into bank scandal
SEOUL, June 2 (Yonhap) -- The ruling party's floor leader on Thursday urged the prosecution to carry out a thorough investigation into the snowballing savings bank scandal and to never tolerate corruption among those in power.
The prosecution has been widening its probe into Busan Savings Bank after it was found to have engaged in extending illegal loans to large shareholders and other financial irregularities involving 7 trillion won in total, leading its chairman, Park Yeon-ho, and several major shareholders to be prosecuted. The bank, along with several other ailing savings banks, was suspended in February for capital shortages.
The focus of the probe is now on former and incumbent senior officials of the financial regulator who allegedly overlooked the wrongdoings and helped the corruption-ridden bank avoid punishment.
"Corruption and privilege should be rooted out, and power should be just and the market should be fair," said Rep. Hwang Woo-yea, floor leader of the Grand National Party (GNP), in his speech to an extra legislative session.
"If there are government authorities and social leaders embroiled in irregularities, their acts are anti-social atrocities," he said. "The prosecution should conduct an impartial and thorough investigation."
He demanded the Board of Audit and Inspection (BAI) be reborn, noting that one of its former ranking auditors was arrested for taking bribes from Busan Savings Bank in exchange for lobbying influential government officials and politicians over the bank's fate.
On the South Korea-U.S. free trade agreement, Hwang called on the opposition parties to cooperate in ratifying the pact as early as possible.
"It's a great opportunity to expand our economic territory," he said. "We should set up a tripartite consultative body of the ruling and opposition parties and the government to fully discuss FTA issues. Then we should complete the parliamentary procedures at an appropriate time."
The trade agreement, signed in 2007 and supplemented last December, has been awaiting approval from the legislatures of the two countries. The U.S. government has recently been making a push to get the deal to pass through Congress.
South Korea's main opposition Democratic Party is opposed to the agreement, claiming the deal is unbalanced in favor of the U.S. and calling for renegotiation.
Hwang also said his party will come up with concrete measures, including expanding scholarships and improving student loans, to reduce college tuitions during this month's parliamentary session.
The GNP announced last month that it will push to halve the hikes in college tuitions in a bid to relieve financial burdens on students and their parents.
The prosecution has been widening its probe into Busan Savings Bank after it was found to have engaged in extending illegal loans to large shareholders and other financial irregularities involving 7 trillion won in total, leading its chairman, Park Yeon-ho, and several major shareholders to be prosecuted. The bank, along with several other ailing savings banks, was suspended in February for capital shortages.
The focus of the probe is now on former and incumbent senior officials of the financial regulator who allegedly overlooked the wrongdoings and helped the corruption-ridden bank avoid punishment.
"Corruption and privilege should be rooted out, and power should be just and the market should be fair," said Rep. Hwang Woo-yea, floor leader of the Grand National Party (GNP), in his speech to an extra legislative session.
"If there are government authorities and social leaders embroiled in irregularities, their acts are anti-social atrocities," he said. "The prosecution should conduct an impartial and thorough investigation."
He demanded the Board of Audit and Inspection (BAI) be reborn, noting that one of its former ranking auditors was arrested for taking bribes from Busan Savings Bank in exchange for lobbying influential government officials and politicians over the bank's fate.
On the South Korea-U.S. free trade agreement, Hwang called on the opposition parties to cooperate in ratifying the pact as early as possible.
"It's a great opportunity to expand our economic territory," he said. "We should set up a tripartite consultative body of the ruling and opposition parties and the government to fully discuss FTA issues. Then we should complete the parliamentary procedures at an appropriate time."
The trade agreement, signed in 2007 and supplemented last December, has been awaiting approval from the legislatures of the two countries. The U.S. government has recently been making a push to get the deal to pass through Congress.
South Korea's main opposition Democratic Party is opposed to the agreement, claiming the deal is unbalanced in favor of the U.S. and calling for renegotiation.
Hwang also said his party will come up with concrete measures, including expanding scholarships and improving student loans, to reduce college tuitions during this month's parliamentary session.
The GNP announced last month that it will push to halve the hikes in college tuitions in a bid to relieve financial burdens on students and their parents.
