KDIC is to investigate Hynix Semiconductor, Inchon Oil Refinery and Korea Industrial Development to try and determine if any of the companies' current or former employees were responsible for the huge losses the companies have made, the report said.

The liquidation agency has given enormous amounts of public funds to the creditor banks of the three companies, the report added

The Hyundai units caused their creditors a total of 1.2 trillion won (about US$1 billion) in losses, which the agency compensated for with public funds, the report quoted an un-named KDIC official as saying Wednesday.

The report said the official added that Hynix has allegedly dumped 730 billion won (about US$635 million) in losses onto its creditor banks, including Woori and Chohung.

Hyundai Engineering and Construction Corp., the flagship firm of the group, would not be probed, the report said, giving the KDIC's reasoning as being that most of the building company's creditors have made a debt-to-equity conversion and the firm has been paying off its debts on schedule.