Kookmin Bank takes internal feud over IT to prosecution

Kookmin Bank took the protracted feud over a computation system change to the prosecution, deepening the chasm between the bank and its parent financial group who both have been reprimanded by the watchdog for management fumbles.

Kookmin Bank filed a complaint with the prosecution on Tuesday against three executives, including Kim Jae-youl, chief information officer of KB Financial Group Inc., accusing the officials of having underestimated the potential risks of the system change and not promptly reporting them to the board of directors.

Inside sources said that bank president Lee Kun-ho is determined to pursue the case, which has tarnished the bank’s reputation. (Yonhap)