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1. The Defendant: KRW 87,370,959 for the Plaintiff and KRW 5% per annum from April 27, 2018 to December 31, 2018; and
Reasons
1. The description of the grounds for the claim shall be as specified in the attached Form;
2. Judgment with no ground for recognition (Article 208 (3) 1, and Article 257 of the Civil Procedure Act);
3. On April 26, 2017, the Plaintiff agreed to pay KRW 100 million from the Defendant at the due date for repayment by setting the amount of KRW 30 million and KRW 40 million from the following day as of April 26, 2018. The Plaintiff asserts that the Defendant is liable to pay KRW 100 million and its delay damages from April 27, 2018 to the Plaintiff.
In light of the foregoing argument, even if following the foregoing argument, the part of the agreement for the payment of KRW 30 million, which exceeds the principal of KRW 70 million out of the agreed amount of KRW 100 million, shall be deemed as a payment agreement for the interest during the period from April 26, 2017 to April 26, 2018.
However, the maximum interest rate under the Interest Limitation Act, which is a mandatory provision, is 25% per annum from July 15, 2014 to February 7, 2018 (the provisions on the maximum interest rate under Article 2(1) of the Interest Limitation Act, Article 2(1) of the former Interest Limitation Act (amended by Presidential Decree No. 28413, Nov. 17, 2017) and 24% per annum from February 8, 2018 (the provisions on the maximum interest rate under Article 2(1) of the Interest Limitation Act and Article 2(1) of the Interest Limitation Act).
Therefore, among the above interest payment agreement between the Plaintiff and the Defendant, KRW 17,370,959 (=20,548 won = 30,548 won = 13,760,274 (=70 million won x 25%) x 13,760,274 won [25%] x 287/365 (=25% from April 27, 2017 to February 7, 2018) x 3,590,137 won [70 million x 78/365 (= from February 8, 2018 to April 26, 2018)] x 209,7979 and 245% of the interest claim exceeds the above interest claim x 97,709 and 7575% of the Plaintiff’s damages for delay. Thus, the portion exceeding the above interest claim is dismissed.