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Korean sues two others for nonpayment of loans
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Posted on Nov 23 2004
A Korean national residing on Saipan sued two others at the Superior Court for allegedly failing to pay the full amount of money loaned out to them three years ago.
Yong Yeon Ja seeks to collect from Kyeong Hee Seo and Hyung Jin Kim over $56,000 representing unpaid principal of the loans.
Yong’s lawyer, S. Joshua Berger, said in a civil complaint that the defendants acquired a total of $62,000 in loans from June 12, 2001 to Sept. 18, 2002. He said the loans were mostly given out in cash in U.S. currency.
In about October 2001, Yong loaned out 15-million Korean won to the defendants, which was equivalent to about $12,000 at that time, Berger said.
Berger said the defendants made payments totaling $19,850. However, he said the defendants’ last payment was on Aug. 10 this year—more than three months ago.
Had the parties’ agreement been followed, the lawyer said the loans would have been fully paid no later than June 20 this year.
Berger said Yong asked the defendants to settle their debt, but the latter allegedly refused to pay.
The lawsuit also asked the court to award Yong costs that he would incur from resorting to legal action, including attorney’s fees.
