Court Denies Arrest Warrant for Former Woori Financial Group Chairman Son Tae-seung

On December 12, 2024, Son Tae-seung (65), the former chairman of Woori Financial Group, appeared at the Seoul Southern District Court for a pre-arrest interrogation regarding allegations of improper loans amounting to 46 billion KRW to his relatives. The court rejected the prosecution's request for an arrest warrant, stating that there remains a dispute over whether Son conspired in the alleged crimes. Judge Han Jeong-seok emphasized the need to protect the defendant's rights, noting that the evidence presented did not sufficiently prove collusion in the alleged wrongdoing.

During the hearing, Son refrained from answering questions from reporters about whether he directly ordered or condoned the improper loans, if he influenced promotions for employees who approved the loans, or why he changed his phone before a search and seizure.

Previously, on November 26, the court had dismissed the prosecution's initial warrant request, citing insufficient evidence to establish a conspiracy or specific involvement in the alleged crimes. The court remarked that while some of Son's statements appeared dubious, this alone did not justify fears of evidence tampering or flight risk.

Following the initial dismissal, the prosecution conducted further investigations, re-summoning Son on December 6 to gather more evidence regarding his involvement in the loans approved by Woori Bank and Woori Financial Savings Bank from April 2020 to January 2024. However, they failed to secure conclusive evidence to warrant his arrest, with Son reportedly denying most allegations during the investigation.