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1. The Defendants shall jointly and severally pay to the Plaintiff KRW 115,860,00 and the interest rate from April 2, 2020 to the day of full payment.
Reasons
1. On February 19, 2019, the Plaintiff, under the joint and several sureties of Defendant C Co., Ltd. (hereinafter “Defendant C”) and Defendant D Co., Ltd. (hereinafter “Defendant D”), lent KRW 50 million to Defendant B at interest rate of 12% per annum. On March 24, 2020, the Plaintiff and the Defendants drafted a loan certificate with respect to the above loan obligations as follows:
(2) On February 19, 2019, Defendant B borrowed the amount of KRW 50 million from the Plaintiff on February 19, 2019 and promised to perform the following obligations: (a) on February 19, 2019, Defendant B borrowed the amount of KRW 50 million from the Plaintiff; (b) on February 19, 2019:
On May 30, 2019, the interest rate of 12% interest rate per annum on May 30, 2019, which was 19% interest rate per annum, was 12% interest rate per annum on May 31, 2020 on the 19th payment date of the principal, and thus, the repayment on the 2nd payment date was not made entirely on the payment date of the principal.
3. If the repayment of principal and interest is delayed, Defendant B shall apply to all principal and interest for delay, and the fact that the “0.01% per day” listed in each of the instant loan certificates is a clerical error in the “0.1% per day or 0.01% per day” as to the principal and interest for which the due date has arrived at the time of delay is 0.1% per day” does not have any special dispute between the parties.
(A) The Defendant’s assertion that the rate of delay damages by the “36.5% per annum” should be null and void or reduced as an estimate for damages due to the violation of the Interest Limitation Act (see, e.g., Supreme Court Decision 2006Da1548, Apr. 2
4. In the following cases, the benefit of time shall be naturally lost and the remainder shall be immediately paid:
(1) The interest rate of 1.5 million won delayed for three months as of March 24, 2020 shall be repaid by March 31, 2020; and 2) If the payment of interest is delayed at least once.
7. Defendant C and D shall guarantee this obligation and shall be liable for the performance of their joint and several obligations with Defendant B.