A. The fact that Defendant B borrowed KRW 100,00,000 from the Plaintiff on July 24, 2015 with the maturity of KRW 100 on April 30, 2016 and interest KRW 10,000 (pre-paid deductions) (hereinafter “instant loan”) may be recognized either as having no dispute between the parties or as having a whole the purport of the pleadings as to the grounds for the instant loan.

Therefore, from May 1, 2016 to June 9, 2016, the day following the due date for payment of the principal lent to the Plaintiff KRW 100,000,000, and from May 1, 2016 to June 1, 2016, Defendant B’s interest rate of KRW 12.9% per annum, which is the above agreement.

As seen in the foregoing paragraph, the Plaintiff and Defendant B agreed to KRW 10,00,000 for 282-day interest from July 24, 2015 to April 30, 2016. As such, the Plaintiff and Defendant B agreed to the annual interest rate of KRW 12.9% [=10,000,000 + (10,000,000 ± 282/365 days x 285 days)] upon conversion into the annual interest rate, the Plaintiff and Defendant B are two decimal places;

From the following day to the day of full payment, there is an obligation to pay damages for delay calculated at the rate of 15% per annum under the Act on Special Cases concerning Expedition, etc. of Legal Proceedings.

Meanwhile, the Plaintiff sought damages for delay calculated at the rate of 15% per annum exceeding the above agreement rate for the period from May 1, 2016 to June 9, 2016, which is the day following the due date, from May 1, 2016 to June 1, 2016, but this part of the claim is rejected

B. As to the determination of Defendant B’s assertion, Defendant B asserts that KRW 10,00,00,00, which was previously deducted as the interest rate, exceeds the interest rate prescribed in Article 3 of the Interest Limitation Act as the interest interest rate for the first month. Thus, Defendant B asserts that KRW 8,125,000, which is the excess portion, should be appropriated for performing the principal’

According to the provisions on the maximum interest rate under Article 2(1), (3), (4), and (3) of the Interest Limitation Act, and Article 2(1) of the Interest Limitation Act, the maximum interest rate under a contract for lending and borrowing money is 25% per annum, and the contract interest is null and void in excess of the above maximum interest rate, and the debtor exceeds the above maximum interest rate.