Arab Today, arab today state auditor to probe financial watchdog over tong yang oversight
Last Updated : GMT 21:34:07
Arab Today, arab today
Arab Today, arab today

State auditor to probe financial watchdog over Tong Yang oversight

Arab Today, arab today

Arab Today, arab today State auditor to probe financial watchdog over Tong Yang oversight

Seoul - Yonhap

The state auditor plans to launch a special inspection of the nation's financial watchdog next week in connection with its oversight of a family-controlled conglomerate accused of fraud and malpractice in issuing bonds, a source said Sunday. Tong Yang Group, the 38th-largest conglomerate in South Korea, is suspected of selling debts worth around 2 trillion won (US$1.89 billion) to investors without fully informing them of its repayment conditions and default risks.

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