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Woori Bank faces allegations of hiring irregularities

South Korea's Woori Bank is facing allegations that it committed irregularities in hiring family members of high-ranking government officials, senior Financial Supervisory Service officials and its clients, The Chosun Ilbo and Yonhap News Agency reported.

Sim Sang-jeung, a lawmaker from the Justice Party, alleged the bank gave special favors to 16 new employees in 2016. The employees are said to be related to senior FSS officials, the National Intelligence Service or one of the bank's major clients, the lawmaker added.

Choe Heung-sik, governor of the FSS, said he will look into the allegations and will report the case to the prosecution if needed. Choe also apologized for the regulator's alleged irregularities in the past in hiring people linked to influential politicians and bankers.

Choe assumed his role as governor of the FSS in September.