Vietnamese authorities have arrested and extradited two South Korean nationals wanted under Interpol Red Notices, underscoring the country’s growing role in cross-border law enforcement cooperation.
Police in Bac Ninh province, working alongside Vietnam’s Ministry of Public Security, confirmed they detained the suspects earlier this month before formally handing them over to South Korean authorities at Hanoi’s Noi Bai International Airport.
High-Interest Illegal Lending Scheme
The two suspects — Jo Jungwoo, 27, and Sim Hyeonjoon, 24 — are accused of operating within an illegal private lending network in South Korea that allegedly charged excessively high interest rates.
According to South Korean investigators, Jo served as the chief executive of the illicit financial operation between July 2024 and September 2025, conducting 691 lending transactions with interest rates reaching as high as 49.1%, significantly above legal limits. Authorities allege the scheme generated substantial illegal profits.
Sim, identified as a member of the same lending organization, reportedly carried out 503 lending transactions between February and September 2025, with interest rates ranging from 28% to 49.1%, also violating South Korean financial regulations.
A branch of the Suwon District Court issued arrest warrants for both suspects in November 2025. Interpol subsequently issued international Red Notices in January 2026, enabling global law enforcement agencies to locate and detain them.
Arrest and Extradition in Vietnam
Vietnamese authorities located the suspects in early January after intelligence indicated they were hiding in Dong Nguyen ward, Bac Ninh province, an industrial hub located near Hanoi that hosts large foreign-invested manufacturing zones.
Following coordinated surveillance and investigation, Vietnamese police arrested both individuals on February 8. Officials reported that the suspects later admitted to their criminal activities during questioning.
The two men were formally handed over to South Korean authorities on February 9 at Noi Bai International Airport and were immediately transported back to South Korea to face prosecution.
Strengthening International Law Enforcement Cooperation
The case highlights Vietnam’s expanding cooperation with international policing agencies, particularly in cases involving financial crimes and foreign fugitives. As Vietnam continues to attract foreign investment and expatriate communities, authorities have placed increasing emphasis on cross-border law enforcement collaboration to maintain financial and public security standards.
The swift arrest and extradition also reflect Vietnam’s commitment to international legal norms and its growing integration into global crime-prevention networks.
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Source: Vietnam Insider