Korean Accounting Official Accused of Diverting 2.5 Billion Won in Public Funds

A grade-7 accounting official at an administrative welfare center in Yeongcheon, North Gyeongsang Province, South Korea, is accused of diverting 2.5 billion won from public funds into a personal account by altering the local fiscal management system more than 230 times from November 2025 to June 2026. According to Foresight News, the transfers were approved under the pretext of paying public fees and other expenses. The case was discovered after the center’s budget balance was found to be unusually low. Yeongcheon City reported the matter to police on July 14 and removed the official from the post. Police are investigating suspicions that the public money may have been used for cryptocurrency investment. Yeongcheon Mayor Kim Byung-sam issued a public apology and said the city will trace the whereabouts of the public funds and work to recover them.