1. Of the judgment of the court of first instance, the part against the defendant exceeding the following order for payment shall be revoked, and that part shall be revoked.

1. Facts of recognition; and

2. The reasons why the court's assertion of the parties is stated in this part are the same as the corresponding part of the judgment of the court of first instance, and thus, this part is cited in accordance with the main sentence of Article 420

3. Determination

A. According to the former Interest Limitation Act (amended by Act No. 1227, Jan. 14, 2014; hereinafter the same) on the validity of the instant settlement agreement, the maximum interest rate under a contract for lending and borrowing money is limited to 30% per annum, and the portion exceeding the maximum interest rate is null and void, and where the debtor voluntarily pays the interest exceeding the maximum interest rate, the amount equivalent to the interest paid in excess shall be appropriated for the principal, and even if a quasi-loan agreement or a novation agreement for lending and lending with respect to the interest exceeding the maximum interest rate is concluded, the excess portion shall not take effect.

(1) The Plaintiff’s loan is a quasi-loan agreement between the Plaintiff and the Defendant in accordance with the former Interest Limitation Act (amended by Presidential Decree No. 18504, Oct. 13, 1998; hereinafter the same shall apply). The Plaintiff’s loan is a quasi-loan agreement between the Plaintiff and the Defendant in accordance with the foregoing facts. However, until June 15, 201, the date of the instant settlement agreement, the interest rate of 30% per annum on the Plaintiff’s loan is calculated in accordance with the former Interest Limitation Act. If the Plaintiff’s loan is calculated (if the amount is less than the won; hereinafter the same shall apply) by paying the Defendant’s loan to the Defendant in return for the repayment of the amount repaid by the Defendant, the principal amount is KRW 17,61,712, and the interest rate is KRW 422,545, as indicated in the attached Table 1 Accounting Table (B).

Therefore, the instant settlement agreement, which is a quasi-loan for consumption, is valid to the extent that the interest calculated at the highest interest rate under the former Interest Limitation Act is to be paid at the rate of 30% per annum from June 16, 201 to the date of full payment.

On the other hand, the defendant's settlement agreement of this case was made by the plaintiff's coercion, and thus null and void.