1. The Defendant’s KRW 30,000,000 and the Plaintiff’s annual rate of KRW 5% from March 20, 2016 to July 13, 2017.

The Plaintiff, on April 30, 2012, lent KRW 30 million (hereinafter “instant loan”) to the Defendant on April 30, 2012 without the due date for repayment, has no dispute between the parties. Thus, barring any special circumstance, the Defendant is obligated to pay to the Plaintiff damages for delay calculated at each rate of 15% per annum as stipulated in the Civil Act from March 20, 2016, the day following the delivery date of the copy of the instant complaint, which is the day when the Plaintiff requested the performance of the loan, to the extent that it is reasonable for the Defendant to dispute the existence and scope of the obligation.

The Plaintiff: (a) agreed on and lent 30 million won to the Defendant at 3% per month interest; (b) the Plaintiff claimed payment of the loan to the Defendant on November 1, 2012; (c) the Defendant asserted that the Defendant should pay interest and delay damages calculated at the rate of 25% per annum of interest as prescribed by the Interest Limitation Act from November 1, 2012; and (d) there is no evidence to prove that the Plaintiff agreed on the health class and interest at 3% per month, and that the Plaintiff sought payment of the loan to the Defendant on November 1, 2012, this part of the Plaintiff’s assertion is without merit.

The plaintiff asserts that even if the interest agreement is not acknowledged, the plaintiff and the defendant are merchants, and the defendant should pay 6% interest and delay damages for the amount of 30 million won per annum as prescribed by the Commercial Act from November 1, 2012. Thus, according to Article 55 (1) of the Commercial Act, in a case where a merchant lends money for his business, legal interest can be claimed, but there is no evidence to support that the plaintiff lent 30 million won as a merchant. Thus, the plaintiff's assertion on this part is without merit.

The defendant's assertion regarding the defendant shall be determined on January 2, 2015, KRW 1500,000, and January 2, 2015 to the plaintiff.