Plaintiff

A. Defendant B’s KRW 300,000,000 as well as 5% per annum from October 1, 2015 to October 14, 2019.

1. In fact, on July 28, 2011, Defendant B, who borrowed KRW 300 million from the Plaintiff, agreed on January 30, 201 to 5% per annum (60% per annum) (hereinafter “the instant loan agreement”), and Defendant C jointly and severally guaranteed Defendant B’s obligation to borrow money.

Defendant B paid interest to the Plaintiff KRW 15 million around August 28, 201, and KRW 7.5 million around September 28, 2012, and repaid the principal KRW 100 million on January 30, 2012.

After that, the Plaintiff requested Defendant B to repay the principal and interest of the loan several times, but Defendant B did not repay the principal and interest of the loan.

On March 19, 2015, Defendant B prepared a written confirmation to the Plaintiff that “The principal amount of KRW 200 million shall be repaid until March 31, 2015, and if so, the penalty (in the event of penalty) shall be additionally paid, KRW 100 million shall be paid.”

However, Defendant B did not comply with the commitments under the confirmation document.

Defendant B would pay the Plaintiff on June 24, 2015 and the interest 100 million won due under the monetary loan agreement dated July 28, 2011 (the period between July 28, 2011 and June 28, 2015) and the unpaid principal KRW 300 million up to September 30, 2015.

'The plaintiff agreed to that effect and made and implemented a written agreement to that effect.

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1, 2, and 3, the purport of the whole pleadings

2. Determination

A. The maximum interest rate stipulated in Article 2(1) of the former Interest Limitation Act, which was enforced on July 28, 2011 by the Plaintiff and Defendant B, on the Plaintiff’s claim amount due to partial repayment of the principal and interest on the claim against Defendant B, is 30% per annum.

In addition, according to Article 2 (4) of the Interest Limitation Act, where a debtor voluntarily pays interest exceeding the maximum interest rate, the amount equivalent to the excess interest paid shall be appropriated for the principal.

Pursuant to the Restriction Act, the rate of agreement under the loan agreement of this case shall be reduced to 30% per annum.

On August 28, 2011, Defendant B paid interest of KRW 15 million over the maximum interest rate, whichever is later 7,890.