A. On September 28, 2017, the Plaintiff borrowed KRW 70 million from the Defendant, and received KRW 63 million from the Defendant, deducting KRW 70 million from the advance interest (hereinafter “instant loan”), the original Defendant, and the Plaintiff’s representative director D, on September 28, 2017, a notary public of September 28, 2017, lent KRW 70 million to the Plaintiff on September 28, 2017 at the rate of KRW 250,000 per annum on October 17, 2017, with the effect that “No objection is raised even if compulsory execution is performed” (No. 4, No. 3, 4, and 3).

B. The Plaintiff paid the Defendant KRW 80,300,000,000 on November 23, 2017, KRW 17,000 on March 12, 2018, and KRW 80,33 million on April 10, 2018.

[Reasons for Recognition] Facts without dispute, Gap evidence 1-1, 2, 2-2-1, 3, Gap evidence 4 and 6-2-3, Gap evidence 22-2, 3, 4, and Eul evidence 3, the purport of the whole pleadings

2. Determination

A. According to Articles 2(1) and 3 of the Interest Limitation Act and Article 2(1) of the former Interest Limitation Act (amended by Presidential Decree No. 28413, Nov. 17, 2017), the maximum interest rate under a contract for lending and borrowing of money is 25% per annum. In cases where a prior deduction was made for interest, if the amount deducted exceeds the amount calculated according to the above maximum interest rate based on the debtor’s actual receipt as the principal, the excess amount is deemed appropriated for the principal.

The Plaintiff agreed to borrow KRW 70 million from the Defendant on September 28, 2017 as of October 17, 2017 and agreed to borrow as of October 17, 2017, and received KRW 63 million from the Defendant after deducting KRW 7 million as the interest on the same day. The Plaintiff is the Defendant.