Loan Shark Who Drove Single Mother to Suicide Faces Eight-Year Sentence on Appeal

Prosecutors: "Additional Illegal Collection Proceeds Identified"
Defendant: "I Will Live the Rest of My Life in Remorse"

Prosecutors have sought a heavier sentence of eight years in prison on appeal for a loan shark who drove a woman in her 30s, a single mother, to take her own life through high-interest loans and threatening illegal debt collection practices.

At a sentencing hearing held on July 8, 2026, before the Criminal Division 3 of the Seoul Northern District Court of Appeals (Presiding Judge Heo Myungsan), prosecutors requested the court to overturn the original verdict and impose an eight-year prison sentence on Mr. Kim (33), who was indicted on charges including violations of the Lending Business Act. They also requested the forfeiture of 7.77 million won and the confiscation of seized items.

A view of the Northern Seoul District Court in Dobong-gu, Seoul. Photo by Hosu Park

Kim was brought to trial on charges of lending a total of 17.6 million won to six people between July and November 2024 without registering as a loan business, applying ultra-high annual interest rates ranging from 2,409% to 5,214%. He is also accused of illegal debt collection, including sending threatening messages to the families and acquaintances of the debtors. During this process, one of the victims, a single mother raising her child alone, lost her life in September 2024 after suffering from illegal debt collection practices.

In April 2026, Kim was sentenced to four years in prison in the first trial. Subsequently, Kim appealed on the grounds of misapplication of the law and unfair sentencing, while prosecutors appealed separately, citing factual errors and misapplication of the law.

On this day, prosecutors applied to amend the indictment, stating that they had additionally identified a portion of Kim's criminal proceeds that was not reflected in the original verdict, and the court accepted this request.

Meanwhile, Kim's side appealed for leniency, emphasizing that he had reached settlements with five of the victims during the appeal process. In his final statement, Kim said, "After the incident, I reached settlements to ease the victims' pain, even if just a little, and to fulfill my moral responsibility. Seeing my son, who was born in October 2024, I came to realize just how heavy a parent's life can be. I also belatedly realized that the victims, too, are someone's children and parents."

The appellate court's sentencing for Kim is scheduled for 10:10 a.m. on August 14, 2026.

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