A defendant shall be punished by imprisonment for not more than ten months and by a fine not exceeding 5,00,000 won.

When the defendant does not pay the above fine.

Punishment of the crime

Any person who intends to engage in credit business shall register the relevant place of business with the competent authority, and shall not receive interest exceeding 25 percent per annum (30 percent per annum until July 15, 2014) if an unregistered credit service provider lends a loan.

Nevertheless, the Defendant, without registering with the competent authority, operated a lending company with the trade name “C” in Gangnam-gu Seoul and 201, while lending KRW 3,00,000 from “E” located in Gangnam-gu Seoul Metropolitan Government D to F on January 31, 2013, granted KRW 780,000 after deducting KRW 150,000 as prior interest, and granted KRW 2,070,000 per annum 60,000 per annum as principal and interest for 47 days, thereby allowing the Defendant to pay KRW 60,00 per day as principal and interest for 47 days, and from January 2, 2013 to July 23, 2014, the Defendant loaned KRW 10,50,000 per annum from January 18, 20,000 as shown in the attached list of crimes.

As a result, the Defendant did not register with the competent authorities, provided credit business and received interest exceeding the statutory limit interest rate.

Summary of Evidence

1. Defendant's legal statement;

1. Statement of the police statement concerning F;

1. Investigation report (related to a detailed statement of passbook transactions);

1. Application of Acts and subordinate statutes to investigation reports (related to attachment of a loan agreement, etc.);

1. Relevant Article of facts constituting an offense, and Articles 19 (1) 1 and (3), 3 (1) (referring to the provision of credit business without making registration, including the provision of credit business without making registration) of the Act on the Registration of Credit Business, etc. and Protection of Finance Users, and Articles 19 (2) 3 and (3), and 11 (1) of the Act on the Registration of Credit Business, etc. and Protection of Finance Users (including the receipt of excess interest by an unregistered credit service provider): Imprisonment with prison labor and fines shall be imposed concurrently;

1. Of concurrent crimes, the former part of Article 37, Articles 38 (1) 2 and 50 of the Criminal Act;

1. Articles 70 (1) and 69 (2) of the Criminal Act for the detention of a workhouse;

1. Article 62(1) of the Criminal Act (see, e.g., Supreme Court Decision 62(1)).