A defendant shall be punished by a fine of 500,000 won.

Where a defendant fails to pay a fine, 100,000 won shall be one day.

Punishment of the crime

Any person shall determine the maximum interest rate under a contract for lending and borrowing of money within the scope not exceeding 25% per annum, and shall not receive the interest exceeding the maximum interest rate.

Nevertheless, the Defendant, at around 19:30 on January 11, 2017, lent KRW 50,000 to the victim D at C restaurant operated by the Defendant in Ulsan-gun, Ulsan-gun, Ulsan-gun, to receive KRW 700,000,000 in total by January 18, 2017. The Defendant agreed to receive KRW 700,000,000 in total as principal and interest on January 18, 2017 and received interest exceeding KRW 2085.7% per annum as principal and interest on January 18, 2017, from that time until February 6, 2018.

Accordingly, the Defendant received interest from the victim in excess of 25% per annum, the highest interest rate.

Summary of Evidence

1. Partial statement of the defendant;

1. Legal statement of witness D;

1. A copy of the receipt submitted by the suspect, a copy of the loan certificate, an investigation report (Calculation Form of interest rate), and a copy of the receipt submitted by the suspect (the defendant and the defense counsel lent KRW 3.5 million to the victim a total of KRW 700,000,000,000,000,000,000,000 were refunded one week after a day, and the victim received interest in excess of the interest rate under the Interest Limitation Act, but the rest of the portion is also not repaid. The purpose of the Interest Limitation Act is to “the stability of the national economic life and the realization of economic justice by prescribing the appropriate maximum limit of interest” (Article 2(1)), and the maximum interest rate under a contract for monetary lending shall be determined by Presidential Decree within the scope not exceeding 25 percent per annum (Article 2(1)), and the provisions on the maximum interest rate under Article 2(1) of the Interest Limitation Act (amended by Presidential Decree No. 28413, Feb. 8, 2018)