Gyeonggi-do Offers 30.9 Million Won Reward for Tips on Illegal Private Loans

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province will pay a reward of 30.9 million KRW to a whistleblower who reported an illegal private loan organization. This is the highest reward paid since the province established and operated the "Gyeonggi Province Public Interest Whistleblowing Hotline," a dedicated channel for public interest and corruption reports, in 2019.

On the 10th, the province announced that it held the 4th Gyeonggi Province Public Interest Whistleblowing Support Committee meeting of 2021 on the 30th of last month and decided to pay a total of 53.63 million KRW in rewards for 20 public interest reports, including illegal private loans, illegal subcontracting by unregistered construction contractors, and neglect of fire safety equipment malfunctions.

The whistleblower Mr. G, who received the highest reward, reported to the Gyeonggi Province Special Judicial Police for Fairness an illegal loan organization that operated illegal lending worth a total of 3.5 billion KRW by lending small amounts to 3,610 financially vulnerable people who could not use the first-tier financial institutions and charging interest exceeding the legal annual rate of 24%.

According to the province’s investigation, they engaged in illegal lending with an annual interest rate as high as 31,000%. The court sentenced seven members of the organization to imprisonment ranging from 4 months to 1 year and 6 months.

The Public Interest Whistleblowing Support Committee also decided to pay 5 million KRW each to two whistleblowers who reported illegal subcontracting by unregistered construction companies. Following the report and investigation, the company received a six-month business suspension.

The committee further decided to pay a reward of 300,000 KRW to a whistleblower who reported neglect of indoor fire hydrant malfunctions in a factory building, thereby preventing potential fire accidents, and 400,000 KRW to a whistleblower who reported a business site that stored and handled 2,000 liters of diesel?twice the permitted quantity?without authorization.

Additionally, rewards totaling 22.73 million KRW will be paid for 19 other public interest reports, including seven cases of unreported air emissions and waste treatment facility installation and operation, two cases of illegal landfill and storage violations of construction waste, and one case of a bus driver not wearing a mask.

Hong Sung-duk, the province’s investigation officer, emphasized, "Citizen reports and whistleblowing on illegal activities are crucial for realizing a fair society. We will thoroughly operate the 'Gyeonggi Province Public Interest Whistleblowing Hotline' by activating whistleblowing through raising reward payment standards and expanding whistleblower protection systems so that whistleblowers can report with confidence."

Earlier, on June 24, the province opened the "Illegal Private Loan Damage Report Center," which can address illegal private loan issues comprehensively.

Meanwhile, those who wish to report public interest issues to Gyeonggi Province can do so through the dedicated channel "Gyeonggi Province Public Interest Whistleblowing Hotline - Gongjeong Gyeonggi 2580." The province actively operates the "Anonymous Proxy Reporting System," allowing lawyers to provide legal consultation and proxy reporting before the report to protect the identity of internal whistleblowers and offer legal advice.

This content was produced with the assistance of AI translation services.