1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1...

Facts of recognition

On November 17, 2015, the Plaintiff loaned KRW 3,000,000 to the Defendant at an interest rate of 34.894% per annum, and at a 60-month loan period (hereinafter “instant loan”).

The principal of the loan claim of this case, which was not paid by the Plaintiff as of October 27, 2016, is KRW 2,956,535, and interest and delay damages are KRW 174,760.

[Based on the facts without dispute, Gap evidence Nos. 1, 2, and 4, and the purport of the entire pleadings, the defendant is obligated to pay to the plaintiff damages for delay calculated at the rate of 34.894% per annum, which is the agreed interest rate of 2,956,535 won (= principal amount of KRW 2,956,535 won, interest rate of KRW 174,760) and the outstanding principal amount of KRW 2,956,535 from October 28, 2016 to the date of full payment).

In conclusion, the plaintiff's claim is justified, and the judgment of the court of first instance is just, and the defendant's appeal is dismissed as it is without merit. It is so decided as per Disposition.