A. On April 3, 2007, C Co., Ltd. registered pursuant to the Act on Registration of Credit Business, etc. and Protection of Finance Users (hereinafter “Credit Business Act”) entered into a loan agreement with the Defendant for cash consumption (hereinafter “the instant loan agreement”) with the content that the Defendant will pay a loan amount of KRW 5,000,000, interest rate and delay damages rate (hereinafter “interest rate and delay damages rate”) at 66% per annum, and at April 2, 2012 as of April 2, 2012, it may repeatedly receive a loan within the limit of the loan limit until the expiry date and pay the balance of the loan on the expiration date.

Since then, the instant loan contract was renewed by April 2, 2017, and the amended contract interest rate at the time of renewal is 39% per annum identical to the limited interest rate under the Credit Business Act at that time.

B. As of March 3, 2015, as of March 3, 2015, the interest rate applied in calculating the remaining principal of the loan under the instant loan agreement shall be as follows:

① From April 3, 2007 to March 21, 2008: 66% per annum from March 22, 2008, Article 8(1) and (2) of the former Credit Business Act (amended by Act No. 9970, Jan. 25, 2010) and Article 5(3) of the former Enforcement Decree of the Credit Business Act (amended by Presidential Decree No. 21466, Apr. 21, 2009) apply to the loan agreements established prior to its enforcement pursuant to the Addenda to the former Credit Business Act.

Therefore, 66% per annum, which is an agreed interest rate under the loan agreement of this case, shall apply only until March 21, 2008.

② From March 22, 2008 to April 2, 2012: (a) the amended Credit Business Act and its Enforcement Decree provide that 49% per annum, which is the interest rate under the Credit Business Act as seen earlier (Provided, That the interest rate at a rate lower than 49% per annum, which is applied in favor of the Defendant by C during this period, as identified in the evidence No. 3, shall be recognized as it is); and (b) the amended Credit Business Act and its Enforcement Decree shall apply from the loan agreements to be concluded or renewed in the future.