DGB Financial Group Co. Ltd. CEO Park In-gyu announced his resignation as CEO of Daegu Bank Ltd., and will also consider vacating his post at the parent company, South Korea's Yonhap News Agency reported March 23.
Park is under criminal investigation for his role in hiring irregularities at the bank, as well as for alleged embezzlement.
Park allegedly created a slush fund worth 3 billion won by cashing gift cards purchased with corporate credit cards in 2014, and personally spending about 100 million won of the money.
Daegu Bank's employee trade union demanded he resign as group CEO immediately, according to the report.
Park said he will decide whether to resign as CEO of DGB Financial in the first half.
Multiple South Korean banks are currently under criminal investigation for various hiring irregularities.