According to Herald Kyungjae, data recently released by the South Korean Prosecutor's Office showed that the number of criminal cases related to "embezzlement of public funds and breach of trust" in 2023 increased by 29% year-on-year.

In 2023, the Korean Prosecutor's Office handled a total of 3,966 cases of embezzlement and breach of trust, while the data for 2024 has not yet been released.

It is worth noting that this figure does not include "simple embezzlement cases" involving "lost property" or cases settled out of court.

Therefore, the actual number of embezzlement and breach of trust cases may be higher.

Herald Kyungjae interviewed Park Ki-tae, an adjunct professor at Dongguk University and a doctor of criminology. Professor Park was formerly the Director of the Audit Division of the Korean National Police Agency and is currently the CEO of a embezzlement detection software company.

He said many Korean companies have weak embezzlement prevention systems, noting:

"As economic uncertainty persists in the wake of the COVID-19 pandemic, more and more employees are being tempted into speculative investments such as stocks, gambling and cryptocurrencies."

Professor Park also pointed out that as the number of "non-face-to-face digital financial transactions" increases, the means of embezzling public funds have become more "diverse and complex."

The report said that data showed that the South Korean Prosecutor's Office now handles an average of about 11 cases of embezzlement and breach of trust every day, equivalent to one case every two hours.

Reports say South Korea is experiencing a "golden age of embezzlement."

Data showed that 216 citizens were arrested last year for embezzlement and breach of trust cases.

In addition, the number of embezzlement and breach of trust cases involving amounts exceeding 500 million won (about 344,000 U.S. dollars) increased by about 40% year-on-year to 612 cases.