1. The plaintiff's claim is dismissed.

2. The costs of lawsuit shall be borne by the Plaintiff.

Plaintiff’s assertion

On September 5, 200, the Plaintiff respectively lent KRW 50,000,000 to the Defendant, and KRW 50,000,000 on October 6, 200, and KRW 50,000,000 on January 23, 2001. On April 26, 2003, the Plaintiff drafted a promissory notes of KRW 242,00,000 from the Defendant (Evidence A).

On May 21, 2007, the Plaintiff recovered KRW 119,518,698 through the auction procedure for the Defendant’s real estate.

Therefore, the Defendant should pay the remainder of the loans to the Plaintiff KRW 122,481,302.

Judgment

The claims arising from both parties’ commercial activities as well as claims arising from the acts that constitute a commercial activity are also commercial claims subject to the period of five years under Article 64 of the Commercial Act. Such commercial activities include not only the basic commercial activities falling under any of the subparagraphs of Article 46 of the Commercial Act but also ancillary commercial activities performed by merchants for business purposes (see Supreme Court Decision 2006Da1381, Apr. 27, 2006). The Plaintiff asserted that the Defendant borrowed money from the Plaintiff to raise operating funds for the said office as the representative director of the Co., Ltd. who is a stock company, and even according to the Plaintiff’s assertion, the Defendant borrowed money from the Plaintiff for business purposes. As such, the Plaintiff’s claims against the Defendant constitute commercial claims arising from assistive commercial activities, and thus, the period of five years extinctive prescription is applicable pursuant to Article 64 of the Commercial Act.

Therefore, even if the plaintiff lent a total of KRW 210,00,000 to the defendant from September 5, 200 to January 23, 2001 as alleged, the plaintiff's claim is determined to have expired on May 21, 2012 after five years from May 21, 2007 when the compulsory execution procedure for the defendant's real estate was completed.

Therefore, we cannot accept the plaintiff's claim against the defendant.

The plaintiff's claim is dismissed.