2016Da274454 Fraudulents

A

B

Seoul Central District Court Decision 2016Na47484 Decided November 23, 2016

April 7, 2017

The judgment below is reversed, and the case is remanded to the Seoul Central District Court.

The grounds of appeal are examined.

1. If the obligor pays out foreign currency claims which are monetary claims designated in a foreign currency in Korean currency, the time of conversion is not the time of performance, but the reality is the time of performance, so the obligor must pay out in Korean currency converted by the foreign exchange rate at the time of performance of reality. Therefore, even in cases where the obligee claims the above foreign currency claims by exercising the right to substitute payment and converting them into Korean currency, the court shall order the performance thereof by taking into Korean currency as the standard for conversion of the foreign exchange rate at the time of closing argument of the fact-finding court nearest when the obligor performs it in reality into Korean currency (see, e.g., Supreme Court en banc Decision 90Da2147, Mar.

2. According to the reasoning of the lower judgment, the lower court calculated the amount to be returned on the basis of KRW 5,797.79, which was the remainder of 8,300,000, which was the 8,300,000 which the Defendant paid to the Plaintiff for the second purchase, less the Defendant’s expense 2,502.21 (i.e., - 2,500, - 2,502.21) on December 1, 2014, converted by applying KRW 8,017,229,000 (i.e., 5,797.79, X1,382,82,82, which was the oil exchange rate of 1,382,00 on the above date, as the return date that the Plaintiff notified the Defendant on December 1, 2014.

3. Examining the factual relations acknowledged by the lower court in light of the aforementioned legal principles, the Plaintiff claims 8,300 U.S. 8,300 U.S. paid for the second purchase cost of Bain in Korean currency. Thus, it is clear that the Plaintiff constitutes a foreign currency claim. Therefore, the Defendant should return the amount calculated by converting the remainder after deducting the Defendant’s expenses from the Defendant’s expenses to the foreign exchange rate as at the time of

Nevertheless, the lower court calculated the amount to be returned by the Defendant to the Plaintiff on the basis of the amount converted into the exchange rate as of the above date on the basis of the Plaintiff’s maturity. In so doing, the lower court erred by misapprehending the legal doctrine on the base point for converting foreign currency claims into Korean currency, thereby adversely affecting the conclusion of the judgment. The allegation contained in the grounds of appeal on this point is with merit

4. Therefore, without examining the remaining grounds of appeal, the judgment of the court below is reversed, and the case is remanded to the court below for a new trial and determination. It is so decided as per Disposition by the assent of all participating Justices on the bench.

Justices Park Jae-young

Justices Park Young-young

Chief Justice Kim Jong-il

Justices Kim Jae-in