Disgraced banker found hanged

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The Independent Online
A former South Korean banker embroiled in a loans-for-kickbacks scandal was found hanging in his home yesterday in a suspected suicide.

Separately, a close associate of President Kim Young-sam's second son was summoned for questioning by state prosecutors, who are building a case against the younger Kim over his suspected role in the scandal.

The former banker, Park Suk-tae, was an executive director of Korea First Bank, the main creditor of troubled Hanbo Steel Corporation at the centre of the scandal. Hanbo collapsed in January under $5.8bn (pounds 3.6bn) in debts supplied by banks under pressure from politicians.

Reuters - Seoul