1. The defendant shall pay 40 million won to the plaintiff and 15% per annum from November 27, 2018 to the day of complete payment.

1. Basic facts

A. On July 5, 2011, the Plaintiff leased KRW 120 million to the Defendant on December 30, 2012, determined the due date for repayment as of December 30, 201.

(hereinafter “The instant loan”). On the same day, the Defendant completed the registration of the establishment of a mortgage over KRW 150 million with respect to the North-gu, Gwangju, and D land and buildings on the second floor (hereinafter “instant real estate”) owned by the Defendant, in order to secure the said loan obligation to the Plaintiff on the same day.

B. On April 6, 2016, the Plaintiff filed an application for the auction of real estate E with the Gwangju District Court, stating that “120 million won and the amount calculated at the rate of 25% per annum from January 1, 2015 to the date of full payment” as “the amount claimed regarding the instant real estate.”

On December 23, 2016, KRW 177,847,707 out of the amount of claim 179,424,657 was distributed to the Plaintiff on the date of distribution of the said auction case.

[Ground of recognition] Facts without dispute, entry of evidence Nos. 1, 2, 9, 10 and the whole purport of the pleading

2. Claims and determination as to whether an agreement on interest was entered into

A. (1) At the time of lending KRW 120 million to the Plaintiff’s Defendant, the Plaintiff agreed to be paid KRW 3 million per month.

For that reason, the Defendant is entitled to return the amount repaid by the Defendant and the dividend of the auction case to the extent that the remainder remains after appropriation to the principal and interest.

(2) There was no interest agreement at the time of borrowing the above KRW 120 million from the Defendant.

If the principal of the loan repaid during that period and the dividend of the auction case are combined, the Plaintiff already recovered the loan exceeding the loan amount.

B. In light of the following circumstances acknowledged based on the evidence Nos. 2, 3, and 11 and the purport of the entire pleadings, it is reasonable to view that the Plaintiff and the Defendant agreed to receive KRW 3 million per month interest on the instant loan.

The Court rendered a judgment that there was an interest agreement in the instant case of demurrer against the distribution between the Plaintiff and the Defendant on the following grounds.