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1. The Defendant’s KRW 146,872,972 among the Plaintiff and KRW 97,160,472 among the Plaintiff, shall be KRW 49,712,500 from September 11, 2013.
Reasons
1. According to the overall purport of the statements and arguments set forth in Gap evidence Nos. 1 and 2 (including paper numbers), the following facts can be acknowledged:
① On August 2, 2013, the Plaintiff leased KRW 100 million (hereinafter “instant loan 1”) to the Defendant at 3% per interest month. On the same day, the Defendant paid the Plaintiff KRW 3 million (=10 million x 3%) as interest on August 2013.
Since then, on September 10, 2013, the Defendant paid KRW 3 million to the Plaintiff as interest on September 10, 2013, and thereafter, failed to repay the principal and interest of the loan to the Plaintiff.
② The Plaintiff, through B on August 19, 2013, lent additional KRW 50 million to the Defendant at 3% of interest per month (hereinafter “instant second loan”). The Defendant was transferred KRW 48.5 million, which was deducted from B in advance as interest for August 2013 on the same day (i.e., KRW 50 million x 3%).
Since then, the defendant failed to repay the principal and interest of the above loan obligations to the plaintiff.
2. Determination on the cause of the claim
A. The gist of the Plaintiff’s assertion is that the Defendant is obliged to pay to the Plaintiff interest or delay damages at the rate of 25% per annum, which is the highest interest rate prescribed by the Interest Limitation Act from September 18, 2013 to the date of full payment, with respect to the amount of KRW 150,000,000,000 and KRW 10,000,000,000,000 from October 2, 2013; and from September 18, 2013 to the date of full payment.
B. Determination 1) According to Articles 2(1), 3(4), and 3 of the former Interest Limitation Act (amended by Act No. 12227, Jan. 14, 2014); and Article 2(1) of the former Interest Limitation Act (amended by Presidential Decree No. 25376, Jun. 11, 2014); the maximum interest rate under a contract for lending and borrowing of money at the time of lending each of the instant loans 1 and 2 is not more than 30% per annum; the contractual interest rate is not more than the above maximum interest rate is null and void; and the debtor is the foregoing.