1. The Defendants are jointly and severally and severally liable to the Plaintiff for KRW 452,454,082 and KRW 178,603,515 from May 31, 2018.

1. Facts of recognition;

A. The Plaintiff registered credit business with the competent Gu/Si pursuant to Article 3 of the Act on Registration of Credit Business, etc. and Protection of Finance Users.

B. (i) On November 2, 2012, the Plaintiff extended the term of KRW 250 million to the Defendants until November 2, 2013; (ii) the interest rate of KRW 36% per annum; and (iii) the interest rate of arrears at KRW 39% per annum.

on November 12, 2012, the Plaintiff received joint and several sureties’s joint and several sureties, and loaned the interest rate of KRW 20 million to Defendant B at 36% per annum, and the interest rate in arrears at 39% per annum (from December 13, 2012 to 3 days in arrears).

Fidelity Defendant C completed the registration of ownership transfer of 504 square meters and 493 square meters in Gyeonggi-do on November 2, 2012, Defendant C established the right to collateral security of 400 million won with maximum debt amount to the Plaintiff.

C. On November 21, 2013, the Plaintiff filed an application for an auction on the said mortgaged real estate (FF). On June 25, 2014, the Plaintiff received dividends of KRW 243,96,485 out of the principal amount of KRW 270 million and interest of KRW 152,60,000 and KRW 152,60,000 on June 25, 2014.

【Evidence C: Evidence Nos. 1, 2, and 1, 2, and 3: Defendant B by public notice

2. Determination

A. Dividends totaling KRW 243,996,485 were first appropriated for 152,60,000 interest for the cause of the claim, and the remainder of KRW 91,396,485 was appropriated for the principal and the principal was 178,603,515.

The remaining principal is 273,850,568 won in overdue interest calculated by applying 39% per annum from June 25, 2014 to May 30, 2018.

Therefore, the Defendants are jointly and severally liable to pay to the Plaintiff the interest rate of KRW 452,454,082 incurred until May 30, 2018, as well as the interest rate of KRW 178,603,515, which is the interest rate of KRW 39% per annum from May 31, 2018 to the date of full payment.

B. As to Defendant C’s assertion, the Defendant first argues that the Plaintiff’s claim for interest exceeding 24% per annum as stipulated in Article 2 of the Interest Limitation Act is unreasonable.

However, since the Plaintiff was registered as a credit business, the Interest Limitation Act.