Court Denies Arrest Warrant for Ex-Woori Financial Chief in Loan Scandal.

Seoul: A court has rejected an arrest warrant sought for Sohn Tae-seung, former chairperson of Woori Financial Group, on suspicions of extending inappropriate loans to his relatives, judicial officials said Wednesday. The Seoul Southern District Court made the decision Tuesday night, citing the need to guarantee his right to defense over alleged complicity. According to Yonhap News Agency, the court stated that it is difficult to conclude there is a risk of destruction of evidence or flight simply because some of Sohn's statements appear to be false or he is suspected of destroying evidence in the past. Sohn is accused of having Woori Bank offer loans worth some 35 billion won (US$25 million) to corporations and individual business owners related to his relatives between April 2020 and January 2024. He headed the group, which controls Woori Bank, from 2020 to 2023.