A. The Plaintiff lent KRW 50 million to the Defendant, but the Defendant did not complete the payment.

B. On December 15, 2016, the Defendant issued to the Plaintiff a certificate of borrowing KRW 50,000,000,000, annually, with the agreed interest rate of KRW 2% per annum and the due date of repayment as of December 15, 2017.

C. The Defendant repaid to the Plaintiff the sum of KRW 2.5 million from January 31, 2018 to June 5, 2018.

【Ground for recognition】 The fact that there has been no dispute, entry of Gap Nos. 1, 2, 3, and 7 (including virtual numbers) and the purport of the whole pleadings

2. The assertion and judgment

A. In light of the fact of determination as to the cause of the claim and the fact that the Plaintiff’s repayment from the Defendant appropriated the amount of KRW 2,50,000 to the principal, the Defendant prescribed that the Plaintiff shall apply the amount of damages in arrears at the statutory rate of interest, and that the Defendant shall apply the rate of interest, if any, to the Plaintiff from December 16, 2016 to December 15, 2017, the date following the date on which the above loan certificate was drawn up, to December 16, 2017, and that 5% per annum as prescribed by the Civil Act from December 16, 2017 to November 8, 2018, the delivery date of a duplicate of the complaint of this case, from December 2017, the date on which the copy of the complaint of this case was served, to the statutory rate of interest.

The provisions of this proviso apply only to cases where the agreement is at least the statutory rate, and if the agreement rate is lower than the statutory rate, damages for delay will be determined at the statutory rate back to the main text.

(See Supreme Court Decision 2009Da85342 Decided December 24, 2009 (see, e.g., Supreme Court Decision 2009Da85342, Nov. 9, 2018). Under the Act on Special Cases Concerning the Promotion, etc. of Legal Proceedings, 15% per annum from November 9, 2018 to May 31, 2019 and 12% per annum from the following day to the date of full payment.

The plaintiff claims for the payment of damages for delay calculated at the rate of 15% per annum from the day after the delivery of a copy of the complaint to the day of full payment, but the legal interest rate of Article 3 (1) of the Act on Special Cases Concerning Promotion, etc. of