1. Defendant B shall pay 27,00,000 won to the Plaintiff and 20% per annum from July 8, 2014 to the day of complete payment.

1. Facts of recognition;

A. Defendant B continued a monetary relationship, such as joining the sequence in which the Plaintiff was a member of the fraternity, and did not pay the fraternity. On April 1, 2013, Defendant B prepared a letter of payment with the purport to pay KRW 27 million to the Plaintiff by the last day of October 2013 (hereinafter “instant letter of payment”). However, Defendant B signed the Defendant C’s signature in the column of joint and several sureties of the said letter of payment, and affixed his seal thereto.

B. On April 1, 2013, Defendant B issued the instant letter of payment and, on the same day, deemed that Defendant B received KRW 27 million to the Plaintiff on the same day, and prepared a certificate of receipt (Evidence A No. 5) stating that a total of KRW 27 million shall be paid by June 25, 2014 each day. However, Defendant B signed the Defendant C’s signature on the joint guarantor column of the said certificate and affixed C’s seal.

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1 and 5, and the purport of the whole pleadings

2. The assertion and judgment

A. According to the facts of the above recognition of the claim portion against Defendant B, Defendant B is deemed to have agreed on April 1, 2013 to pay to the Plaintiff a total of KRW 27 million by the last day of October 2013, taking into account the unpaid payment amount and the damages for delay thereof during the pertinent period. Therefore, Defendant B is obligated to pay to the Plaintiff damages for delay at the rate of KRW 27 million per annum from the day after the date of service of the payment order sought by the Plaintiff, which is stipulated in the Act on Special Cases Concerning the Promotion, etc. of Legal Proceedings.

As to this, Defendant B alleged that the above KRW 27 million is a monetary amount that includes interest at an interest rate. However, according to the purport of each of the statements (except the part of Defendant C) and all of the arguments, Defendant B agreed to pay damages for delay at a rate of 3% per month higher than the statutory maximum interest rate with respect to the fraternity money received from the Plaintiff. As above, Defendant B appears to have agreed to pay damages for delay at a rate of 3% higher than the statutory maximum interest rate.