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1. The judgment of the court of first instance is modified as follows.
The Plaintiff (Counterclaim Defendant) is the Defendant (Counterclaim Plaintiff) with KRW 4,375,393.
Reasons
A principal lawsuit and a counterclaim shall be deemed simultaneously.
The Plaintiff’s assertion by the Plaintiff became aware of the Defendant around 2012, and had the Defendant engage in monetary transactions from that time. The Plaintiff received all principal and interest from the Defendant with respect to loans that he/she lent to the Defendant before June 30, 2015, and thereafter, the Plaintiff determined 19,60,000 as interest rate per 5% from June 30, 2015 to November 27, 2015, and the amount that the Plaintiff received from the Defendant after June 30, 2015 to the Defendant as interest rate per 5% from June 30, 2015.
Therefore, the defendant should pay the above principal amount of KRW 19,600,000 and damages for delay.
(The Plaintiff does not seek interest on the principal of the loan in this case. The 10% interest rate per month between the Defendant’s assertion and the Defendant’s allegation exceeds the maximum interest rate of 25% per annum under the Loan Loan Agreement between the Plaintiff and the Defendant. As such, the interest exceeding the maximum interest rate is null and void.
Since June 30, 2015, the Defendant paid the Plaintiff the principal and interest of the loan in excess of KRW 4,376,300 after the full repayment of the principal and interest to the Plaintiff, the Plaintiff is obligated to pay the Defendant unjust enrichment of KRW 4,376,300 and delay damages therefor.
According to the provisions of Article 2(1), (3), (4), and Article 3 of the Interest Limitation Act, and Article 2(1) of the Interest Limitation Act regarding the part of the Plaintiff’s principal claim as to the principal claim and the counterclaim claim, the maximum interest rate under a contract for monetary lending is 25% per annum. The contractual interest is null and void. If the obligor has voluntarily paid the interest exceeding the maximum interest rate, the amount equivalent to the excess interest paid shall be appropriated for the principal.