The defendant shall pay to the plaintiff KRW 88,488,759 as well as KRW 65,00,000 from January 16, 2020 to the day of full payment.

1. Basic facts

A. On July 6, 2011, D Association entered into a loan transaction agreement (hereinafter “instant agreement”) with the Defendant, setting the loan amount of KRW 65 million, the agreed rate of KRW 6.7% on July 29, 2016, the agreed rate of KRW 6.7% on the expiration date of the loan period, and 20% per annum on the maximum rate of delay damages (hereinafter “instant agreement”).

B. On September 9, 2019, the D Association concluded a contract with the Plaintiff to transfer all assets, including claims against the Defendant of the D Association under the instant agreement, to the Plaintiff (hereinafter “instant transfer contract”).

C. On October 29, 2019, upon receiving notification of the assignment of claims from D Association pursuant to the instant transfer contract, the Plaintiff notified the Defendant of the acquisition of claims, such as the principal and interest of the D Association, to the Defendant based on the instant agreement by content-certified mail, and the said notification reached the Defendant around that time.

As of January 15, 2020, the remainder of the principal and interest of the Defendant based on the instant agreement is KRW 88,488,759 (=interest of KRW 65,00,000 on the remaining principal and interest of KRW 23,48,759).

[Ground of recognition] Facts without dispute, entries in Gap evidence 1 through 6 (including each number), the purport of the whole pleadings

2. According to the above facts of determination as to the cause of claim, the defendant is obligated to pay the plaintiff who received the above principal and interest of loan under the contract of this case to the plaintiff who received the above principal and interest of this case according to the contract of this case and 65,000,000 won of the remaining principal and interest of loan, calculated at the rate of 20% per annum from January 16, 2020 to the date of full payment.

3. The starting point of the judgment on the defendant's defense of extinctive prescription is the starting point of calculating the period of extinctive prescription which meets the requirements for the occurrence of the legal effect of the extinction of the obligation, and it constitutes a specific fact that constitutes the legal requirement of the claim of extinctive prescription

Supreme Court Decision 201Da1448 delivered on August 25, 1995