(a) The meaning of a claim determined by a period not exceeding one year under Article 163 subparag. 1 of the Civil Act;

B. Whether damages for delay after the due date for payment for loans of a bank constitutes interest claim subject to short-term extinctive prescription

1. The term “claims determined by a period not exceeding one year as stipulated in Article 163 subparag. 1 of the Civil Code” means claims paid periodically within a period not exceeding one year, and it is not the meaning that the period of repayment is within one year.

2. The damages for delay after the due date for the loan extended by the bank as the act of business is not the interest claim subject to the short-term extinctive prescription under Article 163 subparagraph 1 of the Civil Act.

Article 163 subparag. 1 of the Civil Act

Supreme Court Decision 64Da1731 Decided February 16, 1965, Supreme Court Decision 79Da1453 Decided November 13, 1979

Attorney Lee Jong-chul et al., Counsel for the defendant

Oyang District Co., Ltd. and one other

Seoul High Court Decision 79Na1066 delivered on November 2, 1979

The appeal is dismissed.

The costs of appeal shall be assessed against the defendants.

The Defendants’ grounds of appeal are examined.

According to the reasoning of the judgment of the court below, interest rate of 13 years and overdue interest rate of 17 years and 3 years and less than 1,00 won cannot be viewed as 1,00,000 won and 1,000 won under the above 17 years and 4 years and 1,000,000 won and 1,000 won and 17 years and 1,000,000 won and 1,000,000 won and 1,000,000,000 won and 1,000,000,000,000 won and 1,000,000 won and 17 years and 1,000,000,000 won and 1,00,000 won and 1,000,000 won and 1,07,00,00 won and 1,07,00 won.

Therefore, all appeals by the Defendants are dismissed. The costs of appeal are assessed against the Defendants who have lost, and it is so decided as per Disposition by the assent of all participating judges.

Justices Kim Yoon-Jeng (Presiding Justice)