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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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KEB Hana Bank, a major South Korean lender, said Wednesday it has relieved a senior executive of his duties for allegedly being promoted to his previous post with the backing of President Park Geun-hye's confidante.
The bank said Lee Sang-hwa had been relieved of his duties as of Tuesday, adding it plans to hold a disciplinary committee to further punish him.
The move came a day after special prosecutors said that Park's longtime friend Choi Soon-sil helped to promote Lee to the post in charge of global sales. Lee was given the newly created post soon after he returned from Germany in January last year.
He is suspected to have helped Choi buy real estate and other assets in Germany. He is also suspected to have peddled his influence so that Choi's daughter could obtain special loans from the bank.
Lee was not immediately available for comment. (Yonhap)
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