Illegal Private Financing News Today : Breaking News, Live Updates & Top Stories | Vimarsana

President Yoon Suk Yeol called Thursday for imposing tough punishments on illegal private lenders who charge interest rates of thousands of percent, saying it is the state's duty to protect ordinary and vulnerable citizens from such 'vicious criminals that suck the blood of the weak.'

As many as 71,000 people with low credit scores were found to have turned to loan sharks to borrow money last year as interest rates surged, according to a recent survey by Korea Research Institute for Financial Inclusion, whose results were announced, Monday.