1. The Defendants jointly and severally pay to the Plaintiff KRW 29,133,298 as well as KRW 23,083,737 as well as full payment from June 27, 2017.

Basic Facts

- On September 27, 2013, Defendant B issued to the Plaintiff a certificate of borrowing that the Plaintiff borrowed KRW 50,000,000 from the Plaintiff on the 27th day of each month and the due date on November 26, 2013 (hereinafter “instant loan”). In such a case, Defendant C and D respectively signed and sealed the said certificate of borrowing as a joint and several surety.

- Defendant B received KRW 50,000,000 from the Plaintiff on September 27, 2013.

- In relation to the instant loan, the Defendants paid the Plaintiff money as shown in the attached sheet of payment. Of the attached sheet of payment, KRW 20 million as of December 26, 2013 and KRW 4,000,000 as of May 7, 2014 in the attached sheet of payment, the Defendants paid to the Plaintiff as principal of the instant loan, and appropriated it for the Plaintiff’s principal, and the total sum of KRW 21,426,000 in the attached sheet of payment was paid by the Defendants as interest.

[Ground of recognition] In the absence of dispute, Gap evidence Nos. 1, 2, 3, Eul evidence Nos. 2, 3, and 5, Eul evidence Nos. 2, 3, and Eul evidence No. 5, and the purport of the entire pleadings, Article 2(1) of the former Interest Limitation Act (amended by Act No. 12227, Jan. 14, 2014; hereinafter “former Interest Limitation Act”) provides that the maximum interest rate under a contract for lending and borrowing of money shall be determined by Presidential Decree within the scope not exceeding 30% per annum. Article 2(1) of the former Interest Limitation Act (amended by Presidential Decree No. 25376, Jun. 11, 2014) provides that the maximum interest rate shall be 30% per annum.

Article 2(1) of the Interest Limitation Act (amended by Act No. 1227, Jan. 14, 2014) (amended by Presidential Decree No. 25376, Jun. 11, 2014) provides that the maximum interest rate shall be determined by Presidential Decree within the scope not exceeding 25% per annum. Article 2(1) of the Interest Limitation Act (amended by Presidential Decree No. 25376, Jun. 11, 2014) provides that the maximum interest rate shall be 25% per annum.

The Addenda to the Interest Limitation Act (Law No. 12227, January 14, 2014).