On March 17, 2011, the Defendant borrowed KRW 50,000,000 from the Plaintiff as well as KRW 1,205,000,000 in total over 20 times until June 24, 2011. On November 26, 2011, the Defendant issued a promissory note with a total of KRW 680,00,000 for the principal amount unpaid to the Plaintiff.

Therefore, the Defendant is obligated to pay to the Plaintiff the amount of KRW 1,437,902,736 (i.e., the principal of KRW 680,00,000,00 with interest on the said borrowed amount within the agreed rate from November 26, 201 to July 14, 2014, the interest rate of KRW 30% per annum under the Interest Limitation Act is within the agreed rate of KRW 25% per annum from July 15, 2014 to December 26, 2015) and the interest rate of KRW 680,00,000,000 calculated with the maximum interest rate of KRW 25% per annum under the Interest Limitation Act from December 27, 2015 to the date of full payment).

Judgment made by the confession of applicable provisions of Acts (Articles 208 (3) 2 and 150 (3) of the Civil Procedure Act)