1. The defendant's appeal is dismissed.

2. As to the case of application for the suspension of compulsory execution by this Court, August 2014.

1. Determination as to the cause of claim

A. 1) On April 26, 1999, the Plaintiff operating an enterprise with the trade name “B” was granted a loan with the interest rate of KRW 150 million at 11.75% per annum from the Agricultural Cooperative Federation on April 26, 199, 11.75% per annum, 17% per annum, and on April 26, 2000 from the date of repayment. 2) The National Agricultural Cooperative Federation notified the Defendant of the transfer of all the claims regarding the above loan to the Plaintiff on July 29, 2003, and thereafter, notified the Defendant of the transfer. Around that time, the notice was issued to the Defendant.

3) The principal and interest of the above loan remaining as of December 16, 2013 is KRW 177,751,035 (= Principal KRW 55,053,742, interest and delay damages KRW 122,697,293). [The fact that there is no dispute over the grounds for recognition, each entry in Gap evidence 1 through 8, and the purport of the whole pleadings.]

B. According to the above facts of determination, the Defendant is obligated to pay to the Plaintiff who acquired the above loan the amount of KRW 177,751,035 and the principal amount of KRW 5,053,742 from December 17, 2013 to March 29, 2014, which is the delivery date of the original copy of the payment order of this case, 17% per annum under the agreement and 20% per annum under the Act on Special Cases concerning Expedition, etc. of Legal Proceedings from the next day to the date of full payment.

2. Judgment on the defendant's defense, etc.

A. The defendant's assertion that the above loans have been extinguished after the lapse of five years from April 26, 200, the expiration date of the period of prescription, which is the commercial claims, from April 26, 2000, which is the maturity date. Accordingly, the plaintiff asserts that the defendant made an agreement on debt settlement with the plaintiff and renounced the prescription benefits by repaying part of the loans.

B. As seen earlier, at the time of the above loan, the Plaintiff was the merchant operating the private company, and the merchant's act on behalf of the business is deemed as commercial activities, and the merchant's act is presumed to be for business purposes (Article 47 (1) and (2) of the Commercial Act). As such, the above loan is a commercial claim and the five-year statute of limitations applies.