South Korean police have discovered unidentified cash worth KRW8.1bn ($7.4m) at a resort casino on Jeju Island, potentially connected to alleged theft by an employee at the company.

The Jeju Provincial Police Agency confirmed that investigators are in the process of analysing if the banknotes – discovered at a safe at the casino – are part of the KRW14.56bn that went missing from the Landing Casino at Jeju Shinhwa World last week.

Investigators also confirmed that a separate sum of money worth several billion South Korean won was found at the residence of a female Malaysian executive, who is reportedly a key suspect in the case.

Having secured camera footage from the casino, police are now searching for the employee, who was in charge of handling funds at the casino. But video recordings at the time of the alleged theft have been erased.

“We are tracking the whereabouts of the cash and the person in question by checking CCTV footage,” police said.

Landing International Development Ltd., the Hong Kong-based operator of the casino, disclosed the cash disappearance last week, having filed a police report through its local affiliate Landing Entertainment Korea.

A statement from the operator last week read: “The board is currently gathering information in relation to the incident and is still investigating the matter.”