A. On July 30, 2009, the Korea Credit Service Company, which is a credit service provider registered under the Act on Registration of Credit Business, etc. and Protection of Finance Users (hereinafter “Credit Business Act”), provided a loan to the Defendant with the amount of KRW 3,000,000 per annum on July 30, 200 as “the maturity date: July 30, 201; repayment method: The principal and interest shall be equally divided and repaid at KRW 198,00 per annum on the 25th day of each month; interest rate shall be 48.5% per annum; overdue interest rate: 49% per annum.”

(hereinafter “instant loan”). (b)

From August 22, 2009 to August 11, 2011, the Defendant paid KRW 4,072,000 in total to a limited liability company for loan of this case.

C. On May 15, 2012, the KAF limited liability company transferred the instant loan claims against the Defendant to the Plaintiff, a credit service provider registered under the Credit Business Act, and notified the Defendant of the assignment of claims on May 18, 2012.

[Grounds for Recognition: Evidence Nos. 1 through 4, Evidence No. 7, and the purport of the whole pleadings]

2. Determination

(a)be entered in the order of the amendment of the relevant statute;

(3) "Rate prescribed by Presidential Decree" in Article 8 (1) of the Act means 49/100 per annum, and the interest rate per month and per day shall be computed by converting 49/100 per annum into a simple interest rate.

The amended provisions of Article 5 (3) and the latter part of the main body of Article 9 shall apply to the provisions of Article 2 (3) and the latter part of the Addenda to this Decree from the loan agreements concluded or renewed after this Decree enters into force.

Article 8 (Restriction on Interest Rates) (1) Where a credit service provider lends a loan to an individual or a small-scale corporation prescribed by the Presidential Decree, the interest rate shall not exceed the rate prescribed by the Presidential Decree within the limit of 60/100 per annum.