1. Of the judgment of the court of first instance, the part against the plaintiff corresponding to the subsequent order of payment shall be revoked.

1. Comprehensively taking account of the overall purport of the arguments in Gap evidence Nos. 1 through 3 (including branch numbers if there are serial numbers), the plaintiff set and lent KRW 5,00,000 to the defendant B on December 7, 2002 as interest rate of KRW 5% per month and due date of payment, June 7, 2008, and the defendant C recognized that it was jointly and severally guaranteed by the defendant C, and the plaintiff was a person who received interest agreed by the defendants from the above lending date until October 7, 2003. Thus, the defendants are jointly and severally liable to pay the plaintiff the above amount of KRW 5,00,000 and the agreed interest or delay damages.

2. We examine ex officio determination.

The Plaintiff is seeking 60% agreement or delay damages from the date of the above final payment of interest to the Defendants.

The former Interest Limitation Act (Act No. 971) enacted on January 15, 1962 was repealed on January 13, 1998 by the repeal of the Interest Limitation Act (Act No. 5507), and was enacted on March 29, 2007 and came into force on June 30, 2007. The restriction rate under the former Interest Limitation Act (Act No. 8322) enacted on June 30, 2007 was 30% per annum. Article 2 of the Addenda of the above Act provides that “The interest rate under this Act shall be calculated as of the contractual interest rate established before this Act enters into force after this Act enters into force.”

Meanwhile, the current interest restriction law amended by Act No. 1227, Jan. 14, 2014; however, Article 2 of the Addenda of the current Interest Restriction Act provides that “The maximum interest rate under the current Interest Restriction Act shall apply from the first contract or the renewal thereof after July 15, 2014.”

Ultimately, from October 8, 2003 to June 29, 2007, the rate of 5% per annum (60%) which is the agreement rate, and from June 30, 2007 to June 30, 2007, 30% per annum, which is the highest interest rate under the former Interest Limitation Act and the Enforcement Decree.

Therefore, the defendants are jointly and severally liable to the plaintiff from October 8, 2003 to June 29, 2007.