A. In fact, the Defendant, at the time of the instant case, lent 8,90,00 won to C on condition that the principal shall be repaid after one month with a prior interest of 10%, but did not receive only 4,200,000 won up to the present day, and thus, the Defendant did not receive interest exceeding 30% per annum, which is the limited interest rate under the Interest Limitation Act, and the lower court convicted the Defendant of the instant facts charged.

B. The punishment sentenced by the lower court against the Defendant (2 million won in penalty) is too unreasonable.

2. Determination

A. (1) Determination as to the assertion of mistake of fact (1) Article 8(1) and Article 2(1) of the former Interest Limitation Act (wholly amended by Act No. 1227, Jan. 14, 2014) provide that a person who received interest exceeding 30 percent per annum, which is the highest interest rate under a contract for monetary lending and lending, shall be punished. According to the foregoing provision, the crime of violating the Interest Restriction Act is established by receiving interest exceeding the highest interest rate, and the principal or interest shall not be fully paid.

(2) In a case where a prior deduction of interest is made, determination should be made as to whether the amount actually received by the debtor, excluding the deduction amount, exceeds the interest rate calculated and limited interest rate (see, e.g., Supreme Court Decisions 2010Do11258, Mar. 15, 2012; 2010Do2060, Dec. 27, 2012). In the instant case, the Defendant offered 10% interest prior to and after the month when the Defendant offered 10% interest and received the principal, and thus, the interest rate on the remainder of the loan is as follows, and the same as the interest rate on the loan.

① Interest rate of 11.11% per month ( = 100,00 won/90 won) (2) annual interest rate of 133.32% ( = 11.11% per month x 12 months) (3) As such, the Defendant shall make a peremptory interest rate by deducting the interest rate each time he/she lends the principal amount of 6 million won in total.