Prosecutors have launched an investigation on five banks that allegedly created "VIP lists" to give undue favors to the families and acquaintances of influential figures in their recruitment procedures. 

The Supreme Prosecutors’ Office said Monday that it received reference materials from the Financial Supervisory Service on the alleged unfair hiring practices by five banks, including KEB Hana, KB Kookmin, Daegu, Busan and Kwangju banks. The office then distributed the materials to related regional prosecutors’ offices.

According to the financial industry, KEB Hana is suspected of being involved in a total of 13 cases regarding recruitment corruption, followed by KB Kookmin and Daegu Bank with three each.