Loan Shark Admits to Charges in Court After Driving Single Mother to Suicide

A loan shark, referred to as A, has largely admitted to charges in court after allegedly driving a single mother in her 30s to suicide through persistent harassment. During the first hearing on February 21 at the Seoul Northern District Court, A's lawyer stated, "We deny some of the charges but acknowledge the rest." However, the defense claimed that A had only received partial repayments from some victims and had never collected interest exceeding the legal rate. A also denied sending threatening images of knives to the mother of one debtor.

Between July and November of last year, A is accused of lending a total of 17.6 million won to six individuals without proper registration as a moneylender, subsequently sending threatening messages to their families and acquaintances. The annual interest rate reportedly exceeded the legal limit by a staggering 100 times, reaching between 2409% and 5214%.

One of the victims, a single mother identified as B, who was constantly threatened after borrowing money, tragically took her own life in September. A is also charged with sending derogatory messages about the victim to her family and friends and making threatening calls to her daughter's kindergarten.

Additionally, A faces allegations of using accounts and mobile phones registered under other people's names to operate the illegal lending business.