1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1..

In full view of the purport of the argument in Gap evidence No. 1, it can be acknowledged that the plaintiff lent 6 million won to the defendant on October 20, 201 by setting the interest rate of 3% per month and the due date of repayment on January 20, 2012. Meanwhile, the fact that the plaintiff received a total of 1.4 million won from the defendant as interest.

According to the facts found above, the Defendant sought interest from August 1, 201 to July 31, 2012 on the loan amount of KRW 6 million and its interest rate of KRW 1,406,557 per annum from October 20, 201 to July 31, 2012. Since the Plaintiff received KRW 1.4 million as interest, the Defendant sought interest from August 1, 2012.

C. Article 2(1) of the current Interest Limitation Act (amended by Act No. 1227, Jan. 14, 2014) provides that “The maximum interest rate under the contract for monetary lending shall be prescribed by Presidential Decree within the scope not exceeding 25 percent per annum.” Article 2(1) of the Interest Limitation Act provides that “The maximum interest rate under the contract for monetary lending and lending under Article 2(1) of the Interest Limitation Act (amended by Presidential Decree No. 25376, Jun. 11, 2014) shall be 25 percent per annum.” However, Article 2 of the Addenda of the same Act provides that “The foregoing Act shall be effective from July 15, 2014)” (Article 2(1) provides that “The amended provisions of Article 2(1) shall apply from the date of the first conclusion or renewal of the contract after this Act enters into force after the enforcement of this Act (Article 2 of the Addenda).”

Within the scope of this section, the plaintiff is obligated to pay interest at the rate of 30% per annum.

As to this, the defendant paid a total of 2.5 million won as interest.

In other words,