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Defendant shall be punished by a fine of four million won.
If the defendant does not pay the above fine, KRW 100,000.
Reasons
Punishment of the crime
1. Individuals violating the Interest Limitation Act shall receive interest within the scope not exceeding 25 percent per annum, which is the maximum interest rate under the contract for monetary loans as prescribed by the Presidential Decree, for the stabilization of national economic life and the realization of economic justice;
Nevertheless, on February 22, 2018, the Defendant, at the “C” coffee store located in Jeju-si, decided to grant a loan of KRW 2 million to the victim D with a prior interest of KRW 1,00,000,000,000 for six months due date, and the principal and interest on the one-time repayment of KRW 1,00,000,000,000 for the first time. On March 31, 2018, the Defendant transferred the amount of KRW 1,00,000 to a new bank account in the name of D (Account Number:E) through a bank account in the name of the Defendant on March 31, 2018, received the amount of interest exceeding 4,000,000 won under the pretext of the principal and interest on one-time repayment (annual 397.4%).
2. Any debt collector who violates the Fair Collection of Claims Act shall not assault, threaten, arrest, or detain a debtor or his/her related person in connection with debt collection, or use a deceptive scheme or force against him/her, and shall not engage in any act which seriously undermines privacy or peace in business by repeatedly speaking, writing, sound, image, or things by reaching the debtor or his/her related person without justifiable grounds, and by repeatedly speaking, etc.;
A. On June 2018, the Defendant visited the victim D’s residence located in Jeju-si F at the beginning, thereby threateninging the victim, stating that “The victim is not a son but a son with his body, but a son is not a son or a son with his son’s son’s son,” on the ground that he did not repay the principal and interest under paragraph (1).”
B. On July 3, 2018, the Defendant uses a mobile phone used by the Defendant for the reason that the victim did not repay the principal and interest under paragraph (1) at a place where it is difficult to identify the place below Jeju city.