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1. Defendants are jointly and severally liable to the Plaintiffs each of KRW 327,700,000 and Defendant C from November 1, 2016 to June 1, 2017.
Reasons
1. Determination as to the cause of claim
A. On March 20, 2015, the Plaintiffs asserted that the Plaintiffs leased KRW 1.56 billion to E-limited company of agricultural company (hereinafter “E”) at maturity on March 20, 2016, at the rate of 2% per annum (3% per annum per annum) and the Defendants jointly and severally guaranteed E’s loan obligations.
However, since E has failed to repay the loan extended to the plaintiffs, the defendants are jointly and severally liable to pay the plaintiffs the principal of the loan of KRW 1,560,000,000 and interest of KRW 912,60,000 until October 31, 2016 ( KRW 1,560,000,000 x 3% x 591/30 x 65,400,000 ( KRW 327,70,000 per plaintiff) and damages for delay.
B. According to the evidence No. 1 and the purport of the entire pleadings, it is recognized that the Plaintiffs lent KRW 1,560,000,000 to E on March 20, 2015, as alleged by the Plaintiffs, and the Defendants jointly and severally guaranteed the relevant loans, and that E did not repay the loans up to now.
However, the maximum interest rate under the contract for lending and borrowing of money cannot exceed 25% per annum pursuant to Article 2 of the Interest Limitation Act. Accordingly, when calculating the principal of the loan and interest accrued until October 31, 2016 to be repaid to the Plaintiffs by E and the Defendants, the total amount of KRW 1,560,000,000, interest amount of KRW 631,479,452 (1,560,000,000 x 25% x 591 x 365 days, 2,191,479,452.
The Plaintiffs’ claim amounting to KRW 655,400,00 (per Plaintiff 327,700,000 each of the above-mentioned principal and interest amounts) is within the scope of KRW 2,191,479,452. As such, the Defendants jointly and severally agreed to the Plaintiffs each of the KRW 327,70,000 and each of the instant payment order from November 1, 2016 until the delivery date of the original copy of each of the instant payment order (for Defendant C, June 5, 2017; for Defendant D, June 7, 2017), and damages for delay calculated at the rate of KRW 25 per annum (the agreed rate within the scope of the Interest Limitation Act) from the next day to the full payment date.