1. The Defendant’s KRW 13,243,571 as well as 5% per annum from July 16, 2016 to August 28, 2018, respectively, to the Plaintiff.

1. Basic facts

A. On January 2, 2014, the Plaintiff transferred KRW 97.5 million to the deposit account in the name of the Defendant North Korea Bank.

B. From January 26, 2014 to July 15, 2016, the Defendant remitted total of KRW 91 million to the Plaintiff on 38 occasions, as indicated in the “amount of repayment” column in the attached Table 1 annexed hereto, to the Plaintiff.

[Ground of recognition] Unsatisfy, Gap evidence 1, 2, Eul evidence 6 (including each number, if any) and the purport of the whole pleadings

2. The parties' assertion

A. On January 2, 2014, the Plaintiff asserted that the Plaintiff lent KRW 97.5 million to the Defendant with interest rate of KRW 2.5% (hereinafter “instant loan”). The Defendant paid a total of KRW 72 million to the Plaintiff from January 29, 2014 to July 15, 2016 as shown in attached Table 2, and did not pay the remainder of the principal and interest.

Therefore, the Defendant is obligated to pay to the Plaintiff damages for delay at the rate of 30% per annum from August 3, 2016 to the date of full payment, which is the base date of the month following the month in which the Defendant paid the last interest, with respect to KRW 95,383,963 and the remaining principal of KRW 95,008,745.

B. The borrowing of the instant loan from the Plaintiff’s assertion is not the Defendant but C. The Defendant, upon the request of C, arranged such transactions, made the Defendant use of the Defendant’s deposit account in the name of the Defendant, and then transferred the money either paid or requested to the Defendant by C every month to the Plaintiff. Thus, there is no obligation to repay the instant loan to the Plaintiff.

In addition, even if a part of the Defendant’s liability is recognized, there is no evidence to prove that there was an interest agreement of 30% per annum on the instant loan. Thus, the Defendant’s obligation should be recognized only for the remainder remaining after the Defendant’s appropriation of the amount remitted to the Plaintiff at the annual rate of 5% per annum,

3. Determination

A. Regarding the instant loan to the parties to the instant loan transaction.