A. According to the overall purport of evidence Nos. 1, 3, and 6 of the facts of recognition, the plaintiff set the maturity of KRW 100 million to the defendant on February 28, 2006 as the operating fund of the defendant corporation C operated by the defendant and lent it to the defendant on February 28, 2007.

B. According to the above facts of recognition, barring any special circumstance, the Defendant is obligated to pay to the Plaintiff delay damages calculated at the rate of 15% per annum under the Civil Act from March 1, 2007 to March 9, 2016, the delivery date of the complaint of this case, and 5% per annum under the Act on Special Cases Concerning the Promotion, etc. of Legal Proceedings from the next day to the day of full payment.

2. Judgment on the defendant's assertion

A. The defendant's assertion around December 2006, the defendant transferred the inventory of the above company in lieu of the repayment of the above borrowed money, and even if not repaid, the extinctive prescription has already expired.

B. (1) In order to take effect of the extinguishment of an obligation by accord and satisfaction, other benefits the obligor performs in lieu of the original performance should be realistic (see, e.g., Supreme Court Decision 2011Da82995, Oct. 11, 2012). There is no evidence that the Defendant performed to the Plaintiff as the product of the said company in lieu of the foregoing loan repayment obligation.

Therefore, the defendant's above assertion is without merit.

(2) A merchant is engaged in a commercial activity as a principal agent of rights and obligations arising from a commercial activity, and the act of doing business is premised on the assumption that the principal agent himself/herself is qualified as a merchant in order to be subject to the Commercial Act as an auxiliary commercial activity. Even if a company is deemed as a merchant under the Commercial Act, the representative director of the company, the agent of the company, is not a merchant, and even if a representative director borrowed money for the purpose of using it as company funds, it does not constitute a commercial activity.