Defendant shall be punished by a fine of KRW 3,000,000.

When the defendant does not pay the above fine, 100,000 won.

Punishment of the crime

No person shall receive interest exceeding 25% per annum, which is the maximum interest rate under a contract for lending and borrowing of money.

Nevertheless, the Defendant lent KRW 3 million to D on April 14, 2017, on condition that D shall be repaid 60,000 won a day to 60,000 won, and actually paid KRW 2.85,000,000 which was deducted in advance from D, and received 60,000 won as the principal amount on the same day, part of the principal and interest thereon, and received interest equivalent to the interest rate of KRW 160.08% a year. On June 14, 2017, the Defendant lent KRW 3.5 million a day to D on condition that D redeem 60,000 won a day to 60,000 won in an influent market located in Seo-gu, Daegu-gu, Seoul Special Metropolitan City (hereinafter referred to as “Seoul-gu”), and was paid 3.2.90,000 won which actually deducted from D on the same day as the principal and interest thereon.

Accordingly, the Defendant received interest exceeding the interest rate of 25% per annum.

Summary of Evidence

1. Defendant's legal statement;

1. Statement of D police statement;

1. Investigation report (the withdrawal details certificate of a complainant and the filing of a detailed statement in currency);

1. Application of Acts and subordinate statutes to a report on investigation (examination as to whether interest rates are violated);

1. Relevant provisions of the Acts concerning facts constituting an offense, and Articles 8 (1) and 2 (1) of the Restriction on Interest Options of Punishment Act;

1. Of concurrent crimes, the former part of Article 37, Articles 38 (1) 2 and 50 of the Criminal Act;

1. Articles 70 (1) and 69 (2) of the Criminal Act for the detention of a workhouse;