Defendant shall be punished by a fine of KRW 2,000,000.

When the defendant does not pay the above fine, 100,000 won.

Punishment of the crime

Any person who intends to engage in credit business shall file for registration with the Special Metropolitan City Mayor, Metropolitan City Mayors, or Do Governors having jurisdiction over the relevant place of business, and the unregistered credit service provider shall not receive the interest exceeding 24% per annum, which is legal interest rate, from February 8, 2018 pursuant to the Interest Limitation Act and the Enforcement Decree thereof.

Nevertheless, without registering a credit business to the competent authority around August 24, 2018, the Defendant borrowed KRW 2 million from the street in front of the Seopo-dong subway Station, Seopo-dong, Busan, with a prior interest of KRW 10,000,000,000,000, and received interest of KRW 670.5% per annum on the condition that 64 days shall be repaid each day, while lending KRW 2 million to B.

In this respect, the Defendant carried out unregistered credit business, and violated the interest rate limitation under the Interest Limitation Act.

Summary of Evidence

1. Defendant's legal statement;

1. Each statement concerning B;

1. Report on internal investigation (limited to the attachment of a copy of a loan agreement), investigation report (a copy of a bankbook of a national bank which is submitted by the victim B);

1. Application of the Acts and subordinate statutes concerning the details of transactions of new banks and national banks;

1. Article 19 (1) 1, Article 3 (1) of the Act on the Registration of Credit Business, etc. and Protection of Finance Users concerning criminal facts, Article 19 (2) 3, and Article 11 (1) of the Act on Registration of Credit Business, etc. and Protection of Finance Users, Article 2 (1) of the Interest Limitation Act (the receipt of interest exceeding the interest rate), and the selection of fines;

1. Of concurrent crimes, the former part of Article 37, Articles 38 (1) 2 and 50 of the Criminal Act;

1. Articles 70 (1) and 69 (2) of the Criminal Act for the detention of a workhouse;

1. Article 334 (1) of the Criminal Procedure Act of the provisional payment order;