1. The Defendant shall pay to the Plaintiff KRW 170,00,000 and the interest rate of KRW 15% per annum from January 21, 2017 to the date of full payment.

1. The Plaintiff loaned a total of KRW 170 million to the Defendant on February 11, 2004 and KRW 162.5 million on February 12, 2004; and there is no dispute between the parties that the Defendant agreed to pay the above loan up to March 29, 2004, and barring any special circumstance, the Defendant is obligated to pay to the Plaintiff damages for delay calculated at the rate of KRW 15% per annum under the Act on Special Cases concerning the Promotion, etc. of Legal Proceedings from January 21, 2017 to the date of full payment, as requested by the Plaintiff, as requested by the Plaintiff.

2. The defendant's defense that the extinctive prescription of the loan claim of this case had already expired before the filing of the lawsuit of this case since ten years have elapsed from the due date.

The plaintiff asserts that the defendant's defense constitutes a violation of the good faith principle and an abuse of rights.

However, as pointed out by the Plaintiff, the exercise of the obligor’s right of defense based on the statute of limitations is governed by the principle of good faith and the principle of prohibition of abuse of rights, which are the major principles of our Civil Act. As such, the obligor’s assertion of the completion of the statute of limitations is not permissible as abuse of rights against the principle of good faith in special circumstances, such as where the obligor has made it impossible or considerably difficult for the obligee to exercise his right or the interruption of prescription prior to the expiration of the statute of limitations, or acted to make it unnecessary for the obligee to take such measures, or where there was an objective obstacle that the obligee was unable to exercise his right, or the obligor was not able to invoke the statute of limitations after the expiration of the statute of limitations, or where there exist special circumstances, such as where the obligor made the obligee trusted the same, or where other creditors of the same condition

Supreme Court Decision 2002Da32332 Delivered on October 25, 2002