A pan-government organization geared to root out loan sharks has launched operations in South Korea.

The organization held a launch ceremony at the Supreme Prosecutors’ Office in Seoul on Wednesday with Prosecutor General Han Sang-dae in attendance.

Shortly after the ceremony, related agencies held a joint meeting and ordered all prosecutors’ offices nationwide to sternly crack down on illegal private lenders. The agencies also decided to set up regional investigative divisions in the district prosecutors’ offices in Seoul, Busan, Daegu, Daejeon and Gwangju.

The new group will focus its crack down on unregistered loan sharks, who charge illegally high interest rates on loans and engage in illegal debt collection practices.

Private lenders who have committed a serious crime or are likely to repeat similar crimes will be indicted for further investigation.