Defendant shall be punished by a fine of seven million won.

If the defendant does not pay the above fine, KRW 100,000.

Punishment of the crime

Any person who intends to engage in credit business shall file for registration with the Mayor/Do Governor having jurisdiction over the relevant place of business.

Nevertheless, the Defendant did not register the credit business as follows, and received interest exceeding 25% of the statutory interest rate on four occasions.

1. At around 10:00 on May 2016, the Defendant, within the “D Art Research Institute” operated by the victims C of the 5th floor in Daegu-gu, Daegu-gu, Seoul-si, and the fiveth floor, the Defendant run a credit business with interest of 304.9% exceeding the statutory interest rate without registering the credit business under the condition that the victims C, who reported the advertisement for the name of the number of days loan amounting to KRW 2,00,000,000 per day, lent the loan amount of KRW 45,000 per day to KRW 65,000 per day.

2. On April 2016, the Defendant run a credit business with interest of 225.69% exceeding the statutory interest rate without registering a credit business and receiving interest of 225.69% exceeding the statutory interest rate on the condition that 80,000 won will be repaid in 60,000 won each day while lending 4 million won to the victim E.

3. On May 2016, the Defendant run a credit business with interest of 225.69% exceeding the statutory interest rate without registering the credit business and receiving interest of 225.69% exceeding the statutory interest rate on the condition that 30,000 won will be repaid in 60,000 won each day when the Defendant loaned 1.5 million won to the victim F.

4. On May 2016, the Defendant engaged in a credit business for which 225.69% interest was paid in excess of the statutory interest rate, without registering the credit business, on condition that the Defendant would be repaid KRW 1.2 million each day on a 60-day basis, while lending KRW 1 million to the victim G, and 200,000 won each day on a 60-day basis.

Summary of Evidence

1. Defendant's legal statement;

1. Statement of the police statement regarding C;

1. Application of statutes governing a copy of a contract for credit business;

1. Article 19 (1) 1, Article 3 (1) of the Act on the Registration of Credit Business, etc. and Protection of Finance Users concerning criminal facts and Article 19 (2) of the same Act, and Article 19 (2) of the same Act.