Gwangju Law Firm | Recovery of Hundreds of Millions of Won in Loaned Money From an Agency Head

The client who sought help from the Gwangju law firm was an aspiring actor.

While the client was working hard toward this dream, the head of the agency said, 'The company is struggling. If you want to debut, lend me some money.'

Because this was a matter on which a lifelong dream depended, the client obtained money from their parents and lent it to the head several times.

The head of the client's agency borrowed more than 400 million won over the course of four years, but the client ultimately did not debut.

The client therefore decided to file a claim for return of the loan against the head of the agency, who had not repaid the money long after the due date, and came to the Gwangju law firm.

The Gwangju law firm assembled a team of attorneys with extensive experience in loan cases to assist with the client's case.

First, the Gwangju law firm argued that there was an obligation to repay the loan, contending that a debtor has a duty to repay money received from a creditor.

The head of the client's agency, the debtor, borrowed hundreds of millions of won over four years, citing reasons such as expensive training programs, profile photo shoots, and various audition participation costs.

The Gwangju law firm noted that the client had given ample time and yet decided to seek return through litigation.

The Gwangju law firm argued that the conduct of the head of the client's agency, who repeatedly demanded money under the pretext of a show business debut, was egregious.

The client had been in a situation of greater longing than anyone to achieve this dream.

The firm emphasized that it was deeply reprehensible for the head, who understood that desperate situation better than anyone, to have exploited it to borrow a large sum of money.

Accepting the Gwangju law firm's argument, the court ordered the head of the agency to return 400 million won in loaned money.

The claim for the loan was granted in full, allowing the client to be compensated for the harm at least economically.

Crimes targeting desperate trainees in the entertainment industry, like the one involving this client are on the rise.

The Gwangju law firm stated, “To prevent such harm, institutional measures that improve the transparency and reliability of the entertainment industry are needed,” and added, “Strong legal measures will be necessary so that similar fraudulent schemes are not repeated.”

If you need to file a claim for return of a loan in a situation like the one above, please reach out to the Daeryun Law Firm 🔗Gwangju Attorney firm.