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1. The defendant's KRW 440,000,000 and the above money to the plaintiff
A. As regards KRW 220,00,000, the full payment shall be made from July 19, 2020.
Reasons
1. The Plaintiff indicated the claim (i.e., KRW 440 million on August 28, 2015; KRW 20 million on January 26, 2016; KRW 80 million on February 2, 2016; KRW 70 million on June 30, 2017; KRW 30 million on July 13, 2017; KRW 60 million on July 26, 2019; KRW 50 million on April 19, 2020; and KRW 30 million on April 21, 2016; and each of the instant investments was received from Defendant 20 million on June 4, 2017; and KRW 50 million on July 26, 201; and KRW 30 million on April 26, 200 on April 21, 200; and each of the instant investments was 60 million on June 4, 2012.
Since each of the investment contracts of this case was cancelled due to the Defendant’s default of interest, the Defendant is obligated to pay to the Plaintiff 40 million won with the agreed interest rate of 30% per annum from July 19, 2020 to the date of full payment.
2. Article 208(3)1 and Article 257(1) of the Civil Procedure Act, which provides for a judgment without holding any pleadings;
3. Part concerning partial dismissal
A. The Plaintiff seeks money from July 19, 2020 to a total of KRW 440 million and the amount calculated at the rate of 30% per annum from July 19, 2020. However, it is reasonable to view each of the instant investment contracts as a contract for monetary lending and lending, and therefore, the Act on Restrictions on Interest Rates shall apply.
B. Pursuant to Article 2(1) of the Interest Limitation Act, Article 2(1) of the Act on the Highest Interest Rate Regulations (hereinafter “the Highest Interest Rate Regulations”) and Article 2 of the former Rules on the Highest Interest Rate (amended by Presidential Decree No. 28413, Nov. 7, 2017), the part seeking the payment of interest exceeding the highest interest rate prescribed in Article 2 of the Interest Limitation Act (25% per annum from July 15, 2014 to February 7, 2018; 24% per annum from February 8, 2018) is dismissed.