Representative Hong Jun-pyo, the leader of the People’s Power, gave advice to Lee Sang-min, who has been paying off a debt of 6.9 billion won for 15 years.
On the 26th SBS ‘Shoes off, Stones for Men’ broadcasted on the 26th, Representative Hong Jun-pyo of People’s Power appeared as a guest. On this day, Lee Sang-min, who identified himself as a ‘debtor representative’, asked Rep. Hong Jun-pyo, “Have you ever been in debt?”
Assemblyman Hong Jun-pyo said, “When I was young, my family was very poor. I had a lot of debt because I had a hard life in the countryside.” “In the old days, interest was very high. Interest was accrued even on holidays.”
He continued, “There was also compound interest. It is a system in which interest is charged on interest. So, after two or three years, the interest is bigger than the principal.” He added frankly, “Because I have lived so hard, I am so afraid of debt.”
He also said, “When I got married, I received a loan of 3 million won. As I passed the Judicial Training Institute, I was given a credit loan of only 3 million won. With that money, I got a rental house worth 2.5 million won in Cheongju, and it was difficult to repay it.”
Lee Sang-min, who heard this, said, “It was the first time I went bankrupt in business. If you fail for the first time, your pride still remains. He told his creditors, ‘I’ll pay it back until I die, so don’t tell me anything that will hurt my self-esteem anymore.’
Assemblyman Hong Jun-pyo said, “I understand Lee Sang-min’s feelings. However, there is a personal bankruptcy system, so file for bankruptcy.”
Lee Sang-min said, “I’ve paid off too much debt for that,” and announced that he has been repaying for 15 years, and Representative Hong Jun-pyo said, “It’s a good thing because it’s an expression of Lee Sang-min’s conscience. Then you’ll be blessed later.”
Seo Eun-hye Freelance Editor [email protected]
Source: HuffPost South Korea – Athena by www.huffingtonpost.kr.
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