beta
Text
Defendant shall be punished by a fine of KRW 5,000,000.
When the defendant does not pay the above fine, 100,000 won.
Reasons
Punishment of the crime
The Defendant is a person who has run unregistered credit business against foreigners of the Republic of Korea.
1. A person who intends to engage in credit business, etc. which is in violation of the Act on Registration of Credit Business, etc. and Protection of Finance Users from Unregistered Credit Business and the Registration of Credit Business, etc., for each place of business, is registered with the competent authority having jurisdiction over the pertinent place of business. However, the Defendant, on November 18, 2016, extended a loan of KRW 2 million to D of the Republic of Korea, which is located in Busan City, Busan, the Republic of Korea, and paid KRW 1,60,000 after deducting KRW 2,40,000,000 as prior interest, from the point of prior interest, shall be paid at KRW 50,000,000,000 for ten months each month.
2. In a case where a credit service provider, etc. without registration of a violation of the Act on Registration of Credit Business, etc. and Protection of Finance Users due to excess of statutory interest rates, the maximum interest rate shall not exceed 25% per annum, notwithstanding the fact that, around November 18, 2016, the Defendant agreed to lend 2,00,000 won to the said D and to pay 1,760,000 won after deducting 2,40,000 won in advance interest under the name of the interest in advance, and agreed to pay 500,000 won per annum for ten months in each month, and agreed to pay the principal and interest at 305.7% per annum from around November 18, 2016 to October 19, 2017 by means of an agreement with the interest rate exceeding 181.2% per annum to 305.7% per annum.
3. No person who violates the Immigration Control Act shall receive a contract for employment of a foreigner or an alien registration certificate as a means to secure the fulfillment of obligation, or compel or arrange the offer of such a contract;
Nevertheless, the Defendant:
(a) around November 27, 2016.