1. The plaintiff's appeal is dismissed.

2. The costs of appeal shall be borne by the Plaintiff.

Purport of claim and appeal

The first instance court.

1. According to the determination on the cause of the claim, barring any special circumstance, the Defendant is obligated to pay the Plaintiff, who is the final transferee of the loan principal and interest, the total sum of KRW 11,703,595 and delay damages for the principal amount of KRW 2,453,668.

On January 6, 2003, EWnitius Co., Ltd.: (a) lent KRW 5,00,000 to the Defendant at the interest rate of KRW 65.7% per annum; (b) 65.92% per annum; and (c) January 5, 2008.

B. On December 29, 2006, AWnman’s day transferred the above loan claim to the Ynman Capital Co., Ltd.

C. On December 19, 2008, the Plaintiff (former Mutual Credit Recovery and Recovery Fund) acquired the instant claim from the Gag Capital on December 19, 2008.

hereinafter referred to as "claim of this case" or "claim of this case"

(2) On March 23, 2009, the Plaintiff was delegated with the authority to notify the assignment of claims from the Gag Capital, and sent a notice of the assignment of claims to the Defendant by content-certified mail, and the said notice of the assignment of claims reaches the Defendant around that time. Meanwhile, as of June 9, 2014, the sum of principal and interest of the instant claims is KRW 11,703,595 ( = principal interest KRW 2,453,68 overdue interest of KRW 9,249,927). The overdue interest rate determined by the Plaintiff is 17% per annum. [The Plaintiff did not dispute over the existence of any ground for recognition, the entries in subparagraphs 1 through 5, 7, and subparagraph 3, and the purport of the entire pleadings.

2. Judgment on the defendant's defense of extinctive prescription

A. As to the completion of extinctive prescription, the defendant asserts that the claim of this case expired by the completion of extinctive prescription.

A company shall be deemed a merchant even if it does not engage in a commercial activity (Article 5(2) of the Commercial Act). An act performed by a merchant for business purposes shall be deemed a commercial activity, and an act performed by a merchant shall be presumed to be

(Article 47 (1) and (2) of the Commercial Act shall apply to all of the parties involved in a commercial activity (Article 3 of the Commercial Act) and if any claim arising from a commercial activity is not exercised for five years.