BUENA PARK (CBS) — Authorities have revealed that the suspected robber who took the manager of Saehan Bank hostage Thursday was also stashing a pipe bomb in his back pocket and three more inside the building where he was waging a police standoff, police reported.

Myung Jae Kim, 54, was shot by police after officers resorted to gunfire to free the hostage. He remained hospitalized Monday in critical condition at UCI Medical Center in Orange, Buena Park police Cpl. Andy Luong said.

The suspected robber will likely be charged with attempted murder of a police officer, kidnapping and robbery, though it’s not yet clear whether the case would be filed in state or federal court, Luong said.

Buena Park police Chief Corey S. Sianez met with reporters Monday to provide more details of the standoff that occurred at 4542 Beach Boulevard.

Just after 11 a.m., Kim, armed with a sawed-off shotgun and four pipe bombs, took the bank manager hostage and forced everyone else out of the building, according to Sianez.

saehan bank Man Who Reportedly Took Bank Manager Hostage Was Carrying Pipe Bombs

Saehan Bank in Buena Park

Kim had a “beef” with the bank manager when she worked at another bank, claiming the manager lost $250,000, Sianez said. During negotiations with authorities, Kim demanded $250,000 or else he would kill the hostage and turn the gun on himself, Luong said.

It’s unclear what actually happened to the money in question, the corporal said.

During a search of Kim’s business in Garden Grove, investigators found bomb-making materials, Luong reported.

The standoff ended when Kim went to get a phone that authorities sent into the bank via a robot. Kim was wounded in the gun battle.

The bank manager was helping Kim with the $250,000 dispute at the prior bank, Sianez and Luong said.

“And then, obviously, in our opinion, he was out to find [the manager] that day, and he did find her and located her at the Buena Park bank,” Sianez said.

“Mr. Kim obviously very methodically pre-planned his robbery that day and was going to do whatever it took to get what he wanted,” said the chief, adding, ” … he made it quite clear from the get-go with our negotiators that he was going to kill himself and the hostage if he didn’t get what he wanted.”

» RELATED: Holdup Suspect Reportedly Tracked Down Hostage From Another Bank

» RELATED: Bank Robber Shot, Hostage Uninjured After 4-Hour StandOff In Buena Park

(©2012 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

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