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1. The defendant's appeal is dismissed.
2. The costs of appeal shall be borne by the Defendant.
Purport of claim and appeal
1...
Reasons
1. Determination on the cause of the claim
(a) Facts below the facts of recognition do not conflict between the parties, or can be acknowledged in full view of the overall purport of the arguments in Gap evidence Nos. 1, 2, 3, and 5 (including serial numbers).
(1) The Defendant, upon entering into a contract for the use of a credit card and obtaining the credit card, did not delay the payment of the credit card.
(2) On September 18, 2003, Hoi Bank transferred credit card-use claims and damages for delay equivalent to KRW 12,995,200 to the Defendant to Solomon Savings Bank (hereinafter “the instant claims”). The Solomon Savings Bank transferred the instant claims to the Plaintiff on April 26, 201.
(3) The Plaintiff applies the rate of damages for delay at 25% per annum to the extent of the initial rate of damages for delay between the Defendant and the Choung Bank.
(4) The Plaintiff’s instant claim pertains to KRW 12,95,200 for principal as of October 8, 2014, and KRW 38,268,61 for delay damages.
B. According to the above facts finding, barring any special circumstance, the Defendant is obligated to pay to the Plaintiff damages for delay calculated at the rate of 25% per annum (25% per annum from October 9, 2014 on the following day to the date of full payment of the principal amount and damages for delay (12,95,200 won) and the principal amount of KRW 12,995,200,000,000 per annum from October 9, 2014 to the date of full payment).
2. The defendant's assertion asserts that the claim of this case was extinguished by prescription.
In light of the following circumstances, the instant claim constitutes a claim arising from commercial activities, and thus, the period of extinctive prescription is five years, and the Defendant’s application prepared by entering into a credit card use contract with Choung Bank Co., Ltd., in accordance with the terms and conditions of the said bank as amended around January 2002.