2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1...

A. On November 23, 2001, Jayang 2 and 3-dong Co., Ltd.: (a) Around November 23, 2001, 200 won interest rate of 13.5% per annum; (b) interest rate of 20.5% per annum; and (c) due date of payment on November 27, 2003 (hereinafter “instant loan”); and (d) loans to the Defendant (hereinafter “instant loan”).

2) As of May 31, 2013, the principal amounting to KRW 12,779,866, interest or delay damages amounting to KRW 1,616,660 remains as of March 15, 2006.

3) On June 28, 2013, the foregoing community credit cooperative transferred all of the instant loan claims remaining to the Plaintiff. Upon delegation from the foregoing community credit cooperative, the Plaintiff notified the Defendant of the fact of transferring the instant loan claims on or before June 23, 2014. (4) As seen above, the instant loan claims that the Plaintiff acquired by the Plaintiff were remaining KRW 20,679,903,037, total of KRW 12,779,866 as of March 23, 2016, including principal and interest interest, and interest interest, etc. (20,679,903).

[Ground of recognition] Facts without dispute, entry of Gap evidence 1 to 6, purport of the whole pleadings

B. According to the above facts of recognition, barring any special circumstance, the Defendant is obligated to pay to the Plaintiff the amount of KRW 20,679,903 as well as the principal of KRW 12,779,86 as to the above amount of KRW 20,679,90, and damages for delay calculated at the rate of 17% per annum as the Plaintiff seeks from March 24, 2016 to the date of full payment.

2. Determination as to the defendant's assertion

A. First, the defendant alleged that the above community credit cooperatives paid KRW 7,00,000 among the loan obligations of this case to the defendant around March 15, 2006, and exempted the remainder of the debt. However, since there is no evidence to acknowledge the fact of the above exemption of the defendant's above obligation, the above assertion by the defendant is without merit.

B. Next, on March 15, 2006, the Defendant did not exercise the above claim against the Defendant by the lapse of 10 years after the above community credit cooperatives received repayment of KRW 7,00,000 from the Defendant’s principal and interest of the loan claim of this case from the Defendant. Thus, the Defendant’s claim for the loan remaining after the above repayment has expired.