"90 Million Won Already Repaid Out of 120 Million Won"
"Delayed Filing for Bankruptcy, Continued to Repay Debt Out of Moral Obligation"
"Ultimately Filed for Bankruptcy This Year...An Unavoidable Decision"
The father of Los Angeles Dodgers player Kim Hyesung, who plays in Major League Baseball, has spoken out for the first time regarding the ongoing controversy over his alleged "debt investment." He stated, "I have repaid most of the principal, but the other party is demanding excessive interest," and claimed, "I borrowed 120 million won and have consistently repaid about 90 million won over the past 15 years."
On November 12, a video titled "Kim Hyesung's Father Wants to Reveal the Truth" was uploaded to attorney Lee Donho's YouTube channel. In the video, attorney Lee released a recorded phone conversation with Kim Hyesung's father.
Kim Hyesung of the Los Angeles Dodgers, who won the Major League Baseball (MLB) World Series, returned to Korea through Incheon International Airport on the 6th and is answering questions from the press. Photo by Yonhap News.
Kim Hyesung's Father: "Owed 120 Million Won Due to Business Failure 15 Years Ago, Have Paid Back Almost All"
In the call, Kim Hyesung's father said, "I incurred a debt of about 120 million won due to a business failure 15 years ago, but I have since paid back about 90 million won." He added, "Although I have repaid most of the principal, the other party keeps inflating the amount by adding interest."
He continued, "At the time, I borrowed money under the pretense of investing in a club located in the basement of a hotel in Songdo, but the business failed, resulting in a loss of 3 billion won." He explained, "After that, I paid back 100,000 won, 200,000 won, 300,000 won, 500,000 won, 1 million won, 2 million won, and 3 million won in small amounts over seven to eight years." He added, "In total, I have paid back nearly 90 million won so far."
Kim Hyesung's father said, "According to my calculations, about 30 million won of the principal remains, but the lender added interest and demanded 200 million won around the beginning of last year. Then, in August this year, I received a call asking for 50 million won." He continued, "For the 120 million won, the lender claimed that the interest had reached 80 million to 100 million won. But since I have been consistently repaying, shouldn't both the principal and the interest decrease accordingly?"
He said, "I still owe 30 million won, but considering the delay, I thought I should pay about 20 million won more, so I agreed to pay 50 million won." He added, "However, I couldn't pay 50 million won all at once, so I offered to pay it in three installments. Eventually, I agreed to pay it all at once by the end of December, as the lender requested."
"Promised to Settle 50 Million Won by End of December...Sudden Protest at Airport"
He went on, "I promised to pay 50 million won by the end of December, but without any prior call, the lender suddenly showed up at the airport with a banner." He added, "Hyesung probably knew that the lender was demanding 150 million won. After eight years of strained relations, seeing such behavior at the airport, who wouldn't be flustered or upset?"
He said, "After Hyesung went pro, the lender started harassing us with banners. We had to move six times after the business failure and lived under difficult circumstances. When Hyesung joined the pros, he gave his entire signing bonus of 135 million won to help pay off my debt." He continued, "For 14 years, I postponed filing for bankruptcy and tried to repay the debt out of a sense of moral responsibility. However, due to some creditors' excessive demands, I finally filed for bankruptcy this year. It was an unavoidable decision to protect my family from further harassment."
Attorney Lee, after hearing the story, explained, "If there was no agreed interest rate, any amount exceeding the standard 6% annual interest between merchants can be considered repayment of the principal. Based on Kim Hyesung's father's account, it appears that most of the principal has been repaid." Finally, Kim Hyesung's father emphasized, "This issue is my problem, not Hyesung's. I am prepared to face criticism if there is anything wrong in telling the truth."
On November 6, during an interview at Incheon International Airport upon his return to Korea, Kim Hyesung pointed at the lender holding a banner and said, "I will do my best in the interview once that person leaves," which sparked controversy. At that time, the lender was holding a banner with phrases such as "One bastard went to the Los Angeles Dodgers, and the father bastard got bankruptcy and discharge." This man, known among baseball fans as "Gocheok Kim Teacher," has been displaying various placards demanding repayment of debt at baseball stadiums ever since Kim Hyesung played for the Kiwoom Heroes.
Meanwhile, Kim Hyesung made a successful debut in Major League Baseball this season. After playing for the Kiwoom Heroes in the KBO League, he signed a 3+2 year contract with the Dodgers through the posting system in January, worth up to 22 million dollars (about 3 billion won). Although he started the season in the minor leagues, he was called up to the big leagues in May and quickly secured his position. He played in 71 regular season games, recording a batting average of 0.280, 3 home runs, 17 RBIs, 19 runs scored, and 13 stolen bases.
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