약정금(소멸시효)
1. The Defendant shall pay to the Plaintiff the annual interest of KRW 937,550,797 as well as KRW 220,00,000 among them, from November 16, 2017 to the day of full payment.
1. On December 4, 1997 between the Plaintiff and the Defendant’s indication of the claim, “The Defendant shall pay the Plaintiff KRW 220,000,000,000 among them, and KRW 70,000,000 until December 31, 1997, and KRW 70,000 until January 31, 1998, and KRW 80,000,000 until February 28, 1998, shall be paid respectively. The Defendant shall lose the benefit of the due date if it is delayed once, and the amount shall be paid by adding the interest of 25% per annum from the next day to the day of full payment.”
(Seoul High Court Decision 97M11392). After that, the plaintiff applied for a compulsory auction on the real estate owned by the defendant according to the above protocol of mediation. On April 15, 2008, the plaintiff was paid interest of KRW 160,973,176 out of the principal amount of the debt under the above conciliation of KRW 220,00,000,000, interest of KRW 562,273,973,973, and interest of KRW 401,30,797 during the compulsory auction procedure (the defendant was not paid).
Accordingly, for the interruption of extinctive prescription, the Plaintiff filed the instant lawsuit seeking payment of the principal amounting to KRW 937,550,797 (i.e., the principal amounting to KRW 220,000,000,000 at the rate of 15% per annum from April 16, 2008 to November 15, 2017) and damages for delay calculated at the rate of KRW 220,000 per annum from November 16, 2017 to the date of full payment.
2. Article 208 (3) 2 of the Civil Procedure Act of the applicable provisions of Acts (a judgment made by a deemed as a foreigner);