2. On July 31, 2019, the last day of the period for which the Plaintiff notified the Defendant of the performance of the loan obligations, the Plaintiff seeking damages for delay in accordance with the agreed interest rate until July 31, 2019, and damages for delay in accordance with the interest rate of 12% per annum under the Act on Special Cases Concerning the Promotion, etc. of Legal Proceedings from the following day to the date of full payment.

However, statutory interest rate under the Act on Special Cases Concerning Encouragement, etc. of Legal Proceedings is calculated from the day following the day on which a complaint seeking the performance of a monetary obligation or other equivalent document was served on the obligor when a judgment ordering the performance of a monetary obligation is rendered (see Article 3(1) of the aforementioned Act). The duplicate of the complaint was served on the Defendant on August 16, 2019.

Therefore, as requested by the Plaintiff, damages for delay at the rate of 10% per annum from March 17, 2019 to August 16, 2019, which is the delivery date of a copy of the complaint, shall accrue, and damages for delay at the rate of 12% per annum under the Act on Special Cases concerning the Promotion, etc. of Legal Proceedings from the next day to the full payment date. Thus, the part of the Plaintiff’s claim in excess shall be dismissed.