Prime Minister Jeong: "Illegal Private Loans Are Unforgivable Crimes"

Prime Minister Jeong Sye-kyun

[Asia Economy Reporter Kwangho Lee] Prime Minister Chung Sye-kyun visited the Financial Supervisory Service's Illegal Private Lending Damage Report Center on the 9th to encourage the staff and held an on-site meeting to discuss the current state of illegal private lending and measures to eradicate it.

During the visit, Prime Minister Chung stated, "Illegal private lending is an unforgivable crime as it exploits the difficulties of vulnerable groups and drives victims into dead ends."

He continued, "New types of illegal private lending methods, such as proxy deposits spreading through social network services (SNS) and false advertisements impersonating financial institutions, have emerged, making the crimes more complex. We will take proactive and strong measures to eradicate illegal private lending," he emphasized.

Prime Minister Chung also mentioned, "Following the 'Illegal Private Lending Eradication Plan' announced on the 23rd of last month, we will promote a government-wide crackdown during the special eradication period for illegal private lending. We will also focus all efforts on strengthening punishments to block attempts at illegal private lending crimes, restricting illegal business profits, and blocking illegal advertisements."

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