A. On May 26, 2017, the Plaintiff, under Defendant C’s joint and several surety, set KRW 83,000,000 to Defendant B as interest rate of KRW 2,00,000 per month.

B. Defendant B repaid the leased principal and interest over several occasions, and repaid the amount up to August 14, 2019 to the interest and principal in accordance with the interest limit rate under the Interest Limitation Act, Defendant B left 62,092,086 won as the principal and interest were appropriated.

At that time, the due date has already arrived, and Defendant B agreed with the Plaintiff on August 14, 2019 to pay the said money by August 21, 2019.

[Ground of Recognition] For Defendant B: The facts that there is no dispute against Defendant C, Gap 1 to 4, Eul 1, and the purport of the whole pleadings

2. Determination

A. The Defendants are jointly and severally liable to pay the principal and interest of the loan 62,092,086 won and the damages for delay calculated at the rate of 5% per annum as stipulated in the Civil Act from August 22, 2019 to June 9, 2020, the delivery date of an application for modification of the purport of the claim, and 12% per annum as stipulated in the Act on Special Cases concerning Expedition, etc. of Legal Proceedings, from the next day to the day of full payment.

B. Defendant C asserts to the effect that since Defendant C paid KRW 56,00,000 to the Plaintiff, the said payment should be appropriated for the principal.

However, Defendant B’s repayment to the Plaintiff should be first appropriated for the repayment of the interest (see Article 479(1) of the Civil Act). As such, Defendant C’s above assertion is without merit.

3. The plaintiff's assertion of conclusion is justified, and all of them are accepted.