BAC NINH, (Vietnam): Police have arrested two South Korean men wanted by international authorities and extradited them to the Republic of Korea (RoK), officials said, in a case involving alleged illegal lending at extreme interest rates.
The men, Jo Jungwoo and Sim Hyeonjoon, were detained in the northern province of Bac Ninh after investigators discovered they had been living quietly in the area while evading arrest.
Both were subject to red notices issued by Interpol at the request of South Korean law enforcement agencies.
Police said the arrests followed weeks of surveillance after receiving information that the suspects had entered Vietnam and gone into hiding. Once their identities were confirmed, officers moved in and took them into custody earlier this month.
The two men were handed over to South Korean authorities late on Feb 9 at Noi Bai International Airport and flown back to South Korea the same night to face prosecution.
According to court documents, Jo Jungwoo, 27, is accused of running an illegal private lending operation between July 2024 and September 2025.
Investigators allege the group issued hundreds of loans at interest rates reaching nearly 50 per cent – far higher than what RoK law allows.
Sim Hyeonjoon, 26, is accused of being part of the same operation and of issuing more than 500 high-interest loans during seven months in 2025.
A RoK court ordered the men’s arrest in November last year. International arrest notices were issued in January after the suspects left the country. - Vietnam News/ANN
