South Korea's financial watchdog will impose a fine on Samsung Group Chairman Lee Kun-hee after it found roughly six billion won in Lee’s accounts under borrowed names.  

The Financial Supervisory Service(FSS) said Monday that it tentatively confirmed that at the time the real-name financial transaction system was put into effect on August 12th, 1993, Lee held nearly six-point-two billion won in 27 accounts under borrowed names. 

With the discovery, Lee will have to pay at least three billion won in fines as the law stipulates that fines for financial assets in borrowed-names be set at half of the assets in such accounts.

The FSS plans to closely cooperate with related agencies, including the National Tax Service, to swiftly carry out procedures to slap fines on Lee.