A. The Plaintiff’s loan claim 1) The Plaintiff’s loan to the Defendant: (a) KRW 30 million in total, from September 12, 2012 to November 13, 2012, determined as 30 million in interest for delay and due date for repayment on December 31, 2012, to the Defendant introduced through omission C (hereinafter “instant loan 1”).

(2) Around February 2014, the Plaintiff additionally lent KRW 100,000 per month interest to the Defendant and KRW 6 million due on July 31, 2014 (hereinafter “instant second loan”).

B. The Defendant repaid each of the instant loans to the Plaintiff KRW 90,000,000 to July 2014. (2) The Defendant repaid each of the instant loans to the Plaintiff KRW 100,000,000 to the Plaintiff out of the instant loans, and KRW 100,000 from February 2014 to April 2014.

3) The Defendant, on July 25, 2014, paid KRW 12 million to the Plaintiff (hereinafter “instant payment”).

A. [The respective entry in Gap evidence Nos. 2, 4, and 5 and the purport of the whole pleadings for recognition] have been satisfied.

2. Determination

A. The gist of the cause of the claim is that the interest rate of the instant loan No. 1 exceeds 25% per annum as stipulated in the Interest Limitation Act. As such, the amount equivalent to the interest paid by the Defendant out of the KRW 900,000 per month paid by the Defendant as the interest on the instant loan No. 1 shall be appropriated to the principal. The remainder of the instant loan No. 1, 20,000 won repaid by the Defendant on July 25, 2014 to the instant loan No. 1, and 20,693,445 won if the Defendant appropriated the loan No. 1, 200

Therefore, the defendant is obligated to pay to the plaintiff 20,693,445 won with 5% interest per annum from August 1, 2014 to the day of complete payment.

B. 1) Determination 1 is the Interest Limitation Act amended by Act No. 12227, Jan. 14, 2014; and the Plaintiff’s interest limitation method seeking application.

According to Section 2(3), interest amounts exceeding 25% per annum as interest holders under a contract for lending and borrowing of money shall be null and void (Article 2(3));