Defendant shall be punished by a fine of KRW 5,000,000.

If the defendant does not pay the above fine, 50,000 won.

Punishment of the crime

1. On March 15, 2013, the Defendant violated the Act on the Registration of Credit Business, etc. and Protection of Financial Users (unregistered) run credit business without registration between March 201 and March 15, 2013, by lending KRW 2,00,000 to victims E at the office of the non-registered credit business chain D in Songpa-gu Seoul building 205.

Although the Defendant asserts that the registration of credit business was made under the name of F, the Defendant did not constitute a unregistered credit business, in light of the following: (a) the Act on Registration of Credit Business and Protection of Finance Users limits the eligibility for registration of credit service providers (Article 4); (b) the Act on the Registration of Credit Business and Protection of Finance Users limits the eligibility for registration of credit service providers; and (c) the prohibition of lending the credit service provider’s name or registration certificate (Article 19(1)2); and (d) the penal provisions on the punishment of violations (Article 5-2) (Article 19(2)1); (b) the legislative intent of the Act on the Registration and Protection of Finance Users (Article 1) to provide for necessary matters concerning registration and supervision of credit business to ensure the sound development of credit business and to protect the customers of credit service providers (Article 1).

(2) On March 15, 2013, the Defendant concluded a contract to lend KRW 2,00,000 to the above E at the above office, and deducted KRW 500,000 as a fee, and granted KRW 1,50,000 as a condition to complete payment of KRW 60,00 for each month between four months and four months, thereby lending KRW 1,50,000 to the above office at an interest rate of 262% per annum.

Summary of Evidence

1. Partial statement of the defendant;

1. Legal statement of witness E;

1. Loan and reimbursement agreements, receipts, and investigation reports (calculated interest rates) Acts and subordinate statutes;