A. On March 25, 2014, the Plaintiff: (a) determined 3% of the interest rate of KRW 50,000,000 to the Defendant (payment on March 25) and the due date for payment on June 25, 2014 (three months); and (b) lent the loan to the Defendant.

(hereinafter “instant loan”). (b) The instant loan

The Defendant paid KRW 1,500,000 to the Plaintiff on April 25, 2014, KRW 1,500,000 on May 23, 2014, KRW 1,500,000 on June 27, 2014, KRW 1,500,000 on July 21, 2014, KRW 7,50,000 on December 16, 2014, KRW 50,000 on April 1, 2015, KRW 1,50,000 on April 1, 2015, and KRW 1,50,500 on April 10, 2015 on the other hand, paid some of the principal as interest.

[Ground of recognition] Unsatisfy, entry of Gap evidence 2, 3, and 8, the purport of the whole pleadings

2. Determination

A. According to Articles 2(1), 2(3), 2(4), and 3 of the former Interest Limitation Act (amended by Act No. 12227, Jan. 14, 2014; hereinafter “former Interest Limitation Act”), and Article 2(1) of the former Interest Limitation Act (amended by Presidential Decree No. 25376, Jun. 11, 2014); the maximum interest rate under a contract for monetary lending is 30% per annum; the exceeding the maximum interest rate is null and void; and the amount equivalent to the excess interest paid is appropriated for the principal where the debtor arbitrarily paid the interest exceeding the maximum interest rate.

B. In light of the above legal provisions, KRW 5,00,00, which was remitted by the Defendant to the Plaintiff on June 3, 2014 among the above amounts paid by the Defendant to the Plaintiff, shall be appropriated for the repayment of principal according to the agreement between the Plaintiff and the Defendant. The remainder shall be appropriated for the principal for the interest or delay damages paid in excess of the maximum interest rate of KRW 30% per annum under the former Interest Limitation Act, and unless there is no evidence to prove that there was an agreement or designation as to the method of appropriation of performance between the Plaintiff and the Defendant, it shall be appropriated according to the method of statutory appropriation of performance under Articles 477 and 479 of the Civil Act. Accordingly, each of the above amounts paid by the Defendant to the principal and interest