1. Revocation of the first instance judgment.

2. The plaintiff's claim is dismissed.

3. All costs of the lawsuit shall be borne by the Plaintiff.

1. The court's explanation on this part of the facts of recognition is the same as the corresponding column of the reasoning of the judgment of the court of first instance. Thus, this part is cited by the main text of Article 420 of the Civil Procedure Act.

2. According to the above facts of recognition as to the cause of claim, the Defendant is obligated to pay the Plaintiff a loan of KRW 125 million (i.e., KRW 180 million - KRW 50 million - KRW 55 million; hereinafter “instant loan claim”) and damages for delay, barring special circumstances.

3. Judgment on the defendant's defense of extinctive prescription

A. The Defendant’s defense against the Defendant constitutes a claim arising out of a commercial activity, and thus, the five-year extinctive prescription period under Article 64 of the Commercial Act was completed.

B. The right to claim for an act that constitutes a commercial activity, as well as a claim for an act that constitutes a commercial activity against both parties, constitutes a commercial claim to which the five-year extinctive prescription under Article 64 of the Commercial Act applies. Such commercial activity includes not only the basic commercial activity falling under any of the subparagraphs of Article 46 of the Commercial Act, but also ancillary commercial activity that a merchant performs for business (see, e.g., Supreme Court Decision 2009Da10098, Mar. 11, 2010). Meanwhile, Article 47(1) of the Commercial Act provides that “an act performed by a merchant for business purposes shall be deemed a commercial activity.” Article 47(2) of the Commercial Act provides that “an act by a merchant shall be presumed to be an act performed for business purposes”

Therefore, in order to reverse such presumption, it is presumed that the act of the merchant whose business is not certain or not for the business, is conducted for the business, and the person who asserts other opposing facts is responsible to prove it.

Even if a merchant does not engage in the business of lending money, he/she shall pay interest on the lending of money for the business interest or convenience, or there is sufficient business funds.