Defendant shall be punished by a fine of KRW 1,000,000.

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

Punishment of the crime

Where an unregistered credit service provider grants a loan, the interest rate shall not exceed 25/100 per annum.

Nevertheless, on May 13, 2016, the Defendant loaned KRW 1.5 million to B from the car page located in Jongno-gu Seoul Metropolitan Government Cze-dong, after deducting KRW 2.70,000 as a fee, and collected KRW 50,000 per day until the principal is repaid. On May 27, 2016, the Defendant additionally loaned KRW 50,000 as a fee and additionally loaned KRW 50,000 to B, deducted KRW 50,000 as a fee, and received interest at KRW 569.9% per annum by adding the above borrowed amount to the interest of KRW 1.5 million until the principal is repaid.

Accordingly, the Defendant received interest exceeding the interest rate under the Interest Limitation Act.

Summary of Evidence

1. Statement by the defendant in court;

1. Copy of the police statement made B by the police;

1. Application of Acts and subordinate statutes to the investigation report (calculated interest rates);

1. Relevant Article 19 (2) 3 and 11 of the Act on the Registration of Preliminary Loan Business, etc. and Protection of Financial Users concerning criminal facts, Article 2 (1) of the Act on the Protection of Interest Restrictions, Article 2 (1) of the Act on the Protection of Financial Users, and Selection of fines;

1. Article 70(1) and Article 69(2) of the Criminal Act to attract a workhouse;

1. Reasons for sentencing under Article 334(1) of the Criminal Procedure Act with respect to the order of provisional payment – Reduction of fines in consideration of the defendant's cooperation in investigations by illegal credit service providers;