This cutesy 2000s loan ad seemed harmless — until someone ran the numbers against it.

An old Korean TV commercial for a loan company, complete with dancing cartoon mascots, resurfaces online decades later.

Translated by Klore · Published

Source & context
Trending on a Korean communityView original post ↗
● Some K-contextCulture shockSocietyHow much Korea-context this story assumes. English translations and context by Klore.
Korean community post, image 1: Bouncy cartoon mascots pitch a 2000s Korean loan company: interest rate 65.7% a year — even on late payments.
English translation
Bouncy cartoon mascots pitch a 2000s Korean loan company: interest rate 65.7% a year — even on late payments.

"대출은 잊지 말고(1789) 산와머니" 금 리: 연리 65.7% 연체금리: 연리 65.7% 이용하실 적에는 계획적으로, 과소비·과대출에 주의하세요

Community postEnglish translation
Anonymous

Kaiji's most notorious villains, the Teiai Group, charge 18% annual interest.카이지 최악의 악덕그룹 제애그룹 연이자 18%

Trending on a Korean communityView original ↗
💡 Wait, a real ad beat the manga's supervillain loan sharks?
Sanwa Money was a heavily-advertised, legit Korean loan company in the 2000s; back then a 65.7% annual rate was perfectly legal, blowing past the '18%' rate Kaiji fans consider unforgivably evil.vs. the US: like a 2000s payday-loan TV jingle proudly quoting a four-digit APR as responsible lending.Klore note
💡 Could a company even charge that today?
South Korea has since capped consumer loan interest around 20% a year, so this cheerful old ad's rate would now be flatly illegal.vs. the US: similar to states outlawing the old triple-digit payday-loan APRs after public backlash.Klore note

What Koreans said

11 top comments on the original thread, translated
  1. 90 upvotes on the original thread
    Anon· on the original thread

    Yakuza money got mixed into that and it was a whole scandal for a while.

    저기 야쿠자머니 들어와서 한동안 난리 났지...

  2. 85 upvotes on the original thread
    Anon· on the original thread

    Can't believe they actually aired that shit as a commercial.

    저딴 걸 광고로 틀어댔으니 참

  3. 70 upvotes on the original thread
    Anon· on the original thread

    Loan sharking back then was genuinely disgusting.

    사채업 정말 혐오스러웠음

Read all 11 translated repliesShow fewer replies
  1. 64 upvotes on the original thread
    Anon· on the original thread

    Those loan sharks were pure evil, using cute friendly mascots to sell their image, and even airing it on kids' channels.

    저시절 대부하던놈들이 씹악질인게 친근해보이는 캐릭터 뽑아서 이미지장사까지 쳐함 심지어 그거로 애들보는 채널에서 광고를 쳐함

  2. 61 upvotes on the original thread
    Anon· on the original thread

    Taekwon V also lent its license when a similar high-interest loan company rebranded as a savings bank. Not even an IP sale, just cashing in.

    태권브이도 저거랑 비슷한이자율의 러시엔캐시 회사가ok저축은행으로 변신 할때 라이센스 빌려줬지. ip넘어간것도 아니고 그냥 돈번다거 채권브이함.

  3. 54 upvotes on the original thread
    Anon· on the original thread

    Wild time when those thugs ran national TV ads and kids were humming the jingle without a clue.

    저런 깡패들이 버젓이 지상파 광고를 타고, 노래가 중독성 있단 이유로 애들이 흥얼거리고 다니던 무서운 시기가 있었지..

  4. 42 upvotes on the original thread
    Anon· on the original thread

    The worst part is it was legal, not illegal loan sharking. If it's illegal you might have leverage, but since it was legal it's basically 'shut up and pay, bitch.'

    저게 불법 사채가 아니라 합법인게 가장 역함. 이게 불법이면 너 뭐 법이랑 친하냐? 가 돼서 그렇지 이자율을 낮추거나 원금만 갚을 수는 있는데 저건 합법이었어서 지랄 말고 돈이나 갚아 썅년아 가 나옴...

  5. 11 upvotes on the original thread
    Anon· on the original thread

    The loan boom back then was basically Japanese money—Japan had near 0% interest rates, so they borrowed cheap there and loaned it out here at 65%. Golden goblin business model.

    그런 오해가 있을 법한게 저당시 대부업 붐이 모두 일본에서 돈을 빌려다 온거기 때문이야. 일본은 최근까지도 금리가 0% 대였어... 그렇게 싸게 빌린 돈을 우리나라에 가져와서 연 65%로 빌려주는 아주 황금 고블린 같은 사업 아이템이 탄생하게 된거지.

  6. 6 upvotes on the original thread
    Anon· on the original thread

    They aired this on Tooniverse, a literal kids' channel.

    이걸 어린애 채널 투니버스에 했다고

  7. 5 upvotes on the original thread
    Anon· on the original thread

    I heard elementary school kids singing 'no interest, no interest~' at the playground back then, genuinely shocked me.

    저 광고 한창 나오던 때에 아파트 놀이터 앞에서 초등학생들이 무이자 무이자~ 하고 부르는거 들었을때는 진짜 깜짝 놀랐음...

  8. 5 upvotes on the original thread
    Anon· on the original thread

    That interest rate was actually legal? That's fucking insane.

    저 이자율이 합법이였다고? 진짜 개어지럽네

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