Korean news media started to talk about Ko So Young signed a contract for a modeling for a Japanese financial group, J Trust. It looks like a normal commercial modeling job like many other actors and actresses are doing but it has a sensitive issue.
Part of J Trust’s revenue is from high interest loans to people with low credit who already used the maximum credit limit from banks or are turned down from banks. The legal annual interest rate in Korea is as high as 34.9% and most of the people have to pay around that interest. Just a reminder that the legal interest rate used to be 66% and that is when all the Japanese financial companies came to open up their biz.
How many people could survive with that much high interest rates? Once you use it, they will drain you out with that interest until you have nothing left. Many of them end up file a bankruptcy to the courts and make horrible living without credit or even kill themselves.
Because of many people’s negative bias of their biz, they really care about their images. They are always trying to make their nice TV commercials to allure potential customers who especially are not really aware of economic senses. The best way to make their good image would be using a top stars for their commercials. Yet, top stars don’t want to be in the commercials because of the firms’ negative image.
Ko So Young signed those one of the bad imaged firms. It makes a big issue. She cares about money only although people thought that she already has enough. If it were the only issue to be concerned, that would’ve been ok but there is another issue broke out.
That is Lee Young Ae turned down the same firm’s offer twice before. Lee Young Ae’s agency didn’t want to say anything about the contract but media already knew that J Trust really wanted her and offered huge money but Lee Young Ae didn’t even hesitate to think about working for the firm as soon as she found out how they make money.
The agency told that Lee Young Ae was a model for a credit card company once but she discontinued her contract after watching so many young people suffering from their credit card debts during the financial crisis. She has never been a model for financial firms ever since and once in a while, she offers to be a model in really low price for small and medium sized firms with great products and potential after her thorough research.
Ko So Young must felt awful after hearing all about what Lee Young Ae has done. Initially her agency told media that she didn’t know the firm’s money lending business with high interest and she just signed the contract to become a model for the financial group image, not for the money lending subsidiary firm’s biz. Yet this triggered bigger gossips and people got angrier on her agent’s stupid excuses. The agency didn’t want to back down and seemed that they will try to convince people with their innocent biz contract.
News broke out yesterday afternoon all of a sudden. She canceled the contract with J Trust. Her agency had to put out this hot gossip fire before it becomes so huge. No Korean stars have survived from gossip fires and they knew exactly what they had to do.
Source: Lee Young Ae and Ko So Young’s Commercial Cut captures