Defendant shall be punished by a fine of KRW 5,000,000.

When the defendant does not pay the above fine, 100,000 won.

Punishment of the crime

The defendant is a person who provides small credit business to the employees of entertainment establishments in the Suwon area.

1. Any person who intends to run a credit business in violation of the Registration of Credit Business and Protection of Financial Users Act shall register the business with the competent authority having jurisdiction over the relevant place of business in each place of business;

Nevertheless, from the beginning of February 2014, the Defendant had been running credit business without registration, such as: (a) 5-6 loans on an average monthly basis to many unspecified persons who intend to obtain loans from Suwon-siwon from the beginning of February 2014 to the present; and (b) providing money to victims B in excess of 3 million won; and (c) lending the relevant principal and interest at a 7-day rate equal to the principal and interest repayment method, etc. for 98 days.

2. Where a unregistered credit service provider violates the Act on Registration of Credit Business, etc. and Protection of Financial Users (limited to the interest rate of unregistered credit service provider), it shall not collect interest exceeding the interest rate of 30% per annum;

A. Nevertheless, the Defendant, on February 10, 2014, loaned KRW 3,500,000 to the Victim B (hereinafter referred to as “victim B”) on the basis of prior interest and commission, concluded a loan agreement with KRW 570,000 on the basis of the so-called equal repayment of principal and interest (one day’s principal and interest KRW 60,000) at intervals of 7 days, and received interest equivalent to KRW 423.9% per annum by concluding a loan agreement at intervals of 98 days;

B. In lending KRW 6,00,00 to the Victim B (hereinafter “B”) on March 28, 2014, 2014, KRW 2060,000 is offered, such as advance interest, commission, and unpaid loan payments, and the principal and interest were paid KRW 600,000 (one day principal and interest KRW 85,700) on a seven-day basis for 98-day period by concluding a loan agreement with the so-called “an amount of interest equivalent to KRW 264.2% per annum.”

Accordingly, the Defendant violated the interest rate limitation.

Summary of Evidence

1. Defendant's legal statement;

1. The police statement concerning B;

1. The details of relevant accounts, the details of transfer of principal and interest, and the interest rate for internal reports;