1. The Defendants are jointly and severally liable to the Plaintiff for 130,000,000 won and 24% per annum from April 8, 2011 to the date of full payment.

1. Facts of recognition;

A. On February 201, Defendant C received a request from Defendant B to lend KRW 180 million from Defendant B to Defendant B, and requested Defendant C to lend KRW 130 million, which is part of the Plaintiff Company’s directors.

B. Accordingly, on February 7, 2011, the Plaintiff agreed to lend KRW 130 million per annum to Defendant B as of April 7, 201, and as of April 7, 201, with the maturity of KRW 130,000,000 from KRW 130,000 to KRW 72,000,000, which was deducted from the above KRW 130,000 to the Defendant C’s account designated by Defendant B, and the Defendant C jointly and severally guaranteed the above loan obligation against the Plaintiff.

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1, 2, and 3 (including each number; hereinafter the same shall apply), the purport of the whole pleadings

2. Determination:

A. According to the above facts of determination as to the cause of the claim, the Defendants are jointly and severally liable to pay to the Plaintiff the loan amount of KRW 130 million and damages for delay at the rate of 24% per annum from April 8, 2011 to the date of full payment, which is the day following the due date.

B. As to Defendant C’s assertion, first of all, Defendant C asserted reduction of the borrowed principal due to prior interest deduction. Defendant C asserts that the borrowed principal to be repaid to the Plaintiff ought to be KRW 12,280,000,000 that actually received from the Plaintiff. The Plaintiff’s loan to Defendant B, which was enforced at the time of the above loan to the Plaintiff, is the former Act on Registration of Credit Business, etc. and Protection of Finance Users (amended by Act No. 10580, Apr. 12, 201; hereinafter “former Credit Business Act”).

Article 8 (1) provides that "where a credit service provider lends a loan to an individual or a small corporation prescribed by Presidential Decree, the interest rate shall not exceed the rate prescribed by Presidential Decree within the limit of 50/100 per annum," and paragraph (2) of the same Article provides that "in calculating the interest rate under paragraph (1), the amount of honorariums, discounts, fees, mutual aid, overdue interests, substitute payments, etc. shall be made."