A. The Plaintiff is a credit service provider that operates credit business with the trade name of alternative investment financing loans.

B. On May 30, 2012, the Plaintiff, with the Defendants as co-debtor, lent KRW 70 million at maturity on August 10, 2012, with the interest rate of KRW 36% per annum, and paid KRW 61 million after deducting interest from interest.

(hereinafter referred to as the instant loan agreement) C.

On May 30, 2012, the Defendants issued and delivered to the Plaintiff a promissory note consisting of the Defendants, the payee, the Plaintiff, the face value of KRW 70,000,000, the payment date, August 10, 2012, the place of payment, the place of payment, and each Hongcheon-gun in the place of issuance.

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1 and 2, the purport of the whole pleadings

2. Determination

A. According to the facts of recognition as above, the defendants are jointly and severally liable to pay the above principal and interest of the loan to the plaintiff as a joint obligor.

B. Although the Defendants did not dispute the Plaintiff’s assertion, since the former Act on Registration of Credit Business, etc. and Protection of Finance Users (amended by Act No. 11544, Dec. 11, 2012; hereinafter “former Credit Business Act”) and the former Interest Limitation Act (amended by Act No. 12227, Jan. 14, 2014) are compulsory provisions, the issue of violation may be determined ex officio (see, e.g., Supreme Court Decisions 2009Da103738, Mar. 25, 2010; 2013Da34044, Aug. 28, 2014).

Where a credit service provider enters into a loan agreement with the other party as mandatory provisions, the former Credit Business Act shall prepare and deliver a loan agreement in which statutory matters, such as the name, address, and registration number of the credit service provider, are stated (Article 6 of the former Credit Business Act and Article 4 of the Enforcement Decree of the same Act) as stipulated in the former Credit Business Act, and at the time the Plaintiff entered into the loan agreement in this case,