A. The Plaintiff (hereinafter “Plaintiff”) entered into a goods supply contract with the Defendant, and supplied the Defendant with 147,157,560 won and other goods, such as heat mos and mos, from October 201 to January 2012.

B. On May 27, 2012, the Defendant promised to reimburse the Plaintiff by December 31, 2012, “the amount of the unpaid goods is KRW 126,115,78, and KRW 12,611,579 among them, up to November 30, 2012, KRW 50,446,315, up to December 31, 2012, KRW 63,057,894, up to January 31, 2013.” The Defendant drafted a letter of debt repayment to the Plaintiff that “the payment of the unpaid goods is delayed, shall lose the benefit of the due date, and shall be paid by adding damages for delay at a rate of 20% per annum from the day following the day on which the payment of the due amount is lost.”

C. Nevertheless, until November 30, 2012, the Defendant did not pay the said installment amount of KRW 12,611,579, thereby losing the benefit of time. As of February 2013, the unpaid amount of goods remains in KRW 125,895,886.

Therefore, the defendant is obligated to pay to the plaintiff 125,895,886 won for the above-paid goods and damages for delay at each rate of 6% per annum under the Commercial Act from December 1, 2012 to the service date of the original copy of the payment order in this case, and 20% per annum under the Act on Special Cases Concerning Expedition, etc. of Legal Proceedings from the next day to the day of full payment.

2. Articles 208 (3) 2 and 150 (3) and (1) of the Civil Procedure Act of the applicable provisions of Acts (a judgment made by deeming that the relevant provisions of Acts are private);