Prosecutors Seek 8-Year Prison Sentence for Loan Shark Who Drove Single Mom to Suicide

Prosecutors have requested an eight-year prison sentence in an appellate trial for a loan shark who was sentenced to four years in prison in the first trial for driving a single mother in her 30s to her death through high-interest loans and threatening collection practices.

During the final hearing held this morning (July 8) at the Seoul Northern District Court, Criminal Appeals Division 3 (Presiding Judge Heo Myeong-san), the prosecution asked the court to sentence the defendant, identified by his surname Kim (34), to eight years in prison for charges including violations of the Loan Business Act and the Credit Collection Act.

The prosecution also requested the forfeiture of 7,777,776 won.

Both Kim and the prosecution have filed appeals, citing reasons such as misunderstanding of legal principles and unfair sentencing.

On this day, the prosecution amended the indictment to include additional criminal proceeds that had been omitted from the original charges.

A statement expressing a desire not to punish the defendant was also submitted, following Kim's additional settlement with five victims.

In his final statement, Kim pleaded for a chance to live a new life, saying, "Seeing my son born in 2024, I realized how heavy the life of a parent is, and only after becoming a father did I feel how difficult it must have been for the victims." He added, "I will engrave this feeling deep in my heart and reflect on my actions."

Kim is accused of lending a total of 17.6 million won to six people at high interest rates without registering as a loan business between July and November 2024, and sending threatening messages to their families and acquaintances.

The annual interest rates reached 2,409 to 5,214 percent, far exceeding the legal interest rate limit of 20 percent of the principal.

One of the victims, a single mother in her 30s identified as A, left a suicide note and took her own life in September 2024 after suffering from malicious illegal debt collection, which caused a significant social stir.

The sentencing for the appellate trial is scheduled for August 14 at 10:10 a.m.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.