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Defendant shall be punished by a fine of four million won.
If the defendant does not pay the above fine, KRW 100,000.
Reasons
Punishment of the crime
1. Violation of the Act on the Registration of Loan Business, etc. and the Protection of Financial Users;
(a) A person who intends to operate an unregistered loan business shall register with the administrative agency having jurisdiction over the relevant place of business, for each place of business;
Nevertheless, the Defendant run a loan business with many unspecified persons from around May 31, 2017 to around July 24, 2017, for the following reasons: (a) the Defendant, without registering with the competent authorities, operated a mutual loan brokerage office for the name of "D" in the building B in the Seo-gu, Seoyang-gu, Seoyang-gu, Busan Metropolitan City; (b) the Defendant borrowed 400,000 won from E to 48,000 won per day after deducting 20,000 won from the pre-paid interest and 200 won.
(b) No person, other than credit service providers or credit financial institutions, whose advertisement for loan business is run, may place an advertisement for loan business;
Nevertheless, even if the defendant is not a credit service provider, the defendant distributed the former part of No. 1-A, which is 'D', from Filju City Fran City at the same time as stated in the paragraph, and advertised the loan business.
(c)
A unregistered credit service provider shall not exceed 25% per annum in excess of the interest rate of the unregistered credit service provider.
1) On May 31, 2017, the Defendant lent 4 million won to E from the car page where he was unaware of the trade name in F at the Simju-si, and deducted 200,000 won from the prior interest and agreed to receive 48,000 won per day for 100 days, and made a loan exceeding the interest rate paid by 176.25% per annum.
2) On June 30, 2017, the Defendant lent KRW 1 million to E from the car page where he was unaware of the trade name in F at the Simju-si, and deducted KRW 50,000,000 per day, and the Defendant was paid KRW 12,00 per day on a 100-day basis, thereby making a loan exceeding the interest rate paid by 176.25% per annum.
3) On July 24, 2017, the Defendant leased KRW 1 million to E from a car page where he/she was unaware of the trade name in F at Paju-si on July 24, 2017, deducted KRW 50,000,000 per annum, thereby receiving interest of KRW 12,00 per annum for 10 days.