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1. The Defendants: (a) KRW 200 million to their respective Plaintiff; (b) KRW 36% per annum from May 14, 2007 to June 29, 2007; and (c) June 2007 to their respective Plaintiff.
Reasons
The following facts for the determination of the cause of the claim may be found either in dispute between the parties or in accordance with the statements in Gap 1 and 2:
① On June 28, 2006, the Plaintiff entered into a monetary loan agreement with Defendant B to lend KRW 200 million (payment on December 29, 2006), setting the repayment period as KRW 3% per month, and the overdue interest rate as KRW 200 million. On December 29, 2006, the Plaintiff transferred the said KRW 200 million to the account of D Co., Ltd. (hereinafter “D”).
② Since July 31, 2006 to June 25, 2007, Defendant B paid to the Plaintiff the interest or overdue interest of KRW 44 million in total (the aggregate amount of the interest and overdue interest calculated by the rate of 2% per month from June 29, 2006 to December 29, 2006, which is the due date, from June 29, 2006 to December 29, 2006, respectively).
③ On August 22, 2007, Defendant C guaranteed the Defendant B’s above loan obligation under the agreement that “The principal of the above loan shall be repaid until the end of November 2007, and the interest rate of one-month (3% per week) from the end of August 2007 shall be paid.”
Meanwhile, according to Article 2(1) and (3) of the former Interest Limitation Act (amended by Act No. 8322, Mar. 29, 2007; Act No. 10925, Jul. 25, 201); Article 2(1) of the former Interest Limitation Act (amended by Presidential Decree No. 25376, Jun. 11, 2014); the current Interest Limitation Act (amended by Act No. 12227, Jan. 14, 2014); Article 2(1) of the former Interest Limitation Act and Article 2(1) of the Interest Limitation Act on the highest interest rate (amended by Presidential Decree No. 25376, Jun. 11, 2014); however, according to Article 2 of the former Interest Limitation Act and Article 2 of the Addenda of the Enforcement Decree of the same Act, the former Interest Limitation Act and the former Interest Limitation Act still enter into a contract for the first time after the enforcement date.