1. Of the judgment of the first instance court, KRW 19,294,520 against the Plaintiff and the Plaintiff shall be fully paid with respect to the Defendant from January 1, 2014.

1. On December 7, 2012, the Plaintiff lent KRW 20,000,00 to the Defendant at an interest rate of 3% from December 8, 2012 to December 7, 2013. The Defendant paid KRW 600,000,000 as interest per month until November 9, 2013. The Defendant paid KRW 7,10,000,000 in total by paying KRW 50,000 on December 31, 2012, or by paying KRW 7,10,00,000 in total, without any dispute between the parties, or by taking into account the purport of the entire pleadings as stated in the evidence No. 1,20,000,000 in the evidence No. 1.

However, according to the provisions on the maximum interest rate under Articles 2(1), (3), (4), and 3 of the former Interest Limitation Act (amended by Act No. 12227, Jan. 14, 2014); the maximum interest rate under a contract for lending and borrowing money is 30% per annum; the exceeding the above maximum interest rate is null and void; and where the debtor voluntarily pays the interest exceeding the above maximum interest rate, the amount equivalent to the over-paid interest shall be appropriated for the principal (see, e.g., Supreme Court Decision 2012Da5198, Oct. 11, 2012). Therefore, the amount of interest calculated at 30% per annum pursuant to the former Interest Limitation Act until December 31, 2012 by the Plaintiff’s last repayment to the Defendant is more than 6,394,520 won (=20,000 x 030,000 x 1204,705).

Therefore, the Defendant is obligated to pay to the Plaintiff the remainder of KRW 19,294,520 (=20,000,000- 705,480) and interest on delay calculated at the rate of 30% per annum from January 1, 2014 to the date of full payment.

2. The defendant's assertion is based on D's acceptance and payment of KRW 10,000,000 among the debt owed to the plaintiff, and the defendant shall remaining KRW 10,000,000.