A newly established prosecution unit on fiscal crimes will take over the investigation into allegations of corruption involving a government-funded solar panel project launched under the previous administration to enhance renewable energy generation, sources said Thursday.
The Financial Supervisory Service (FSS) has started looking into allegations of bad loans related to solar energy development during the former President Moon Jae-in administration. The FSS said Wednesday it is planning to look into banks detailed records regarding their approved loans related to solar energy development since 2017.
A government probe has found that the previous Moon Jae-in administration s renewable energy project was hit by widespread irregularities and wasted taxpayers money. Last week, the Office of Government Policy Coordination under the prime minister announced findings that 261.6 billion won ($187.5 million) was misappropriated under the project.
President Yoon Suk-yeol on Thursday condemned recent findings that 261.6 billion won ($187.5 million) of government money was misappropriated under a power project pursued under the previous Moon Jae-in administration.