Summary Our client lent a total of about ₩106.88 million to his former boss in 2022. After only ₩54.23 million was repaid, the boss stopped paying and even asked for more. We applied for a payment order and provisionally attached his real estate. He objected and made threatening calls, but after negotiation he agreed to repay the remaining balance with interest.
Background
Our client, Mr. Kim (pseudonym), lent money to his former boss, Mr. Jeong (pseudonym), on several occasions during 2022 — about ₩106.88 million in total. Mr. Jeong repaid ₩54.23 million, then avoided repaying the rest while asking to borrow more.
What we did
1) Payment order: applied to the court for a payment order for the outstanding amount.
2) Provisional attachment: at the same time, provisionally attached real estate registered in Mr. Jeong’s name, so it could not be sold during the case.
3) Handling pressure: Mr. Jeong objected to the payment order, which moved the case to an ordinary lawsuit, and made threatening calls to our client. We advised our client to stop all direct contact, and warned Mr. Jeong directly about the legal consequences of further contact.
4) Negotiation: Mr. Jeong first asked to pay in instalments, but our client wanted a lump sum. When Mr. Jeong’s parents became involved, we continued negotiating calmly and firmly.
Result
Mr. Jeong agreed to repay the remaining balance together with interest. The interest received was enough to cover a significant part of our client’s legal fees.
Key takeaways
1) A loan to a colleague or boss can be claimed like any other loan if you can prove it was a loan.
2) Provisional attachment of real estate at the start creates real pressure, even if the debtor objects to the payment order.
3) If the debtor threatens you, stop direct contact and let your lawyer handle communication.
Names are pseudonyms and some details have been changed to protect client confidentiality. Every case is different, and past results do not guarantee a similar outcome.
Related guides
• Payment Orders in Korea
• Provisional Attachment in Korea
• How to Write a Loan Agreement in Korea
Lent money to someone at work?
We handle payment orders, provisional attachment, lawsuits and negotiation in Korea, with advice in English.
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Summary Our client lent a total of about ₩106.88 million to his former boss in 2022. After only ₩54.23 million was repaid, the boss stopped paying and even asked for more. We applied for a payment order and provisionally attached his real estate. He objected and made threatening calls, but after negotiation he agreed to repay the remaining balance with interest.
Background
Our client, Mr. Kim (pseudonym), lent money to his former boss, Mr. Jeong (pseudonym), on several occasions during 2022 — about ₩106.88 million in total. Mr. Jeong repaid ₩54.23 million, then avoided repaying the rest while asking to borrow more.
What we did
1) Payment order: applied to the court for a payment order for the outstanding amount.
2) Provisional attachment: at the same time, provisionally attached real estate registered in Mr. Jeong’s name, so it could not be sold during the case.
3) Handling pressure: Mr. Jeong objected to the payment order, which moved the case to an ordinary lawsuit, and made threatening calls to our client. We advised our client to stop all direct contact, and warned Mr. Jeong directly about the legal consequences of further contact.
4) Negotiation: Mr. Jeong first asked to pay in instalments, but our client wanted a lump sum. When Mr. Jeong’s parents became involved, we continued negotiating calmly and firmly.
Result
Mr. Jeong agreed to repay the remaining balance together with interest. The interest received was enough to cover a significant part of our client’s legal fees.
Key takeaways
1) A loan to a colleague or boss can be claimed like any other loan if you can prove it was a loan.
2) Provisional attachment of real estate at the start creates real pressure, even if the debtor objects to the payment order.
3) If the debtor threatens you, stop direct contact and let your lawyer handle communication.
Names are pseudonyms and some details have been changed to protect client confidentiality. Every case is different, and past results do not guarantee a similar outcome.
Related guides
• Payment Orders in Korea
• Provisional Attachment in Korea
• How to Write a Loan Agreement in Korea
Lent money to someone at work?
We handle payment orders, provisional attachment, lawsuits and negotiation in Korea, with advice in English.
Request a consultation ➔