1. All appeals by the Defendants are dismissed.

2. The costs of appeal are assessed against the Defendants.

Purport of claim and appeal

1.

1. The Plaintiff, on January 18, 2006, lent KRW 5,00,00 to Defendant B with interest rate of KRW 24% per annum and due date of repayment on January 17, 2007, and Defendant C provided joint and several surety for Defendant B’s above loan obligations, barring any dispute between the parties. Thus, barring any special circumstance, the Defendants are jointly and severally liable to pay to the Plaintiff interest or delay damages calculated at the rate of 24% per annum from January 18, 2006 to the date of full payment.

2. The Defendants asserted that the statute of limitations defense by the Defendants had expired on January 17, 2016 when ten years elapsed from January 18, 2006, the lending date.

However, the extinctive prescription is in progress from the time when the right can be exercised (Article 166(1) of the Civil Code), so the extinctive prescription of the loan claim should run from the time when the right is exercised.

According to the above facts, the extinctive prescription of the above loan claim is completed on January 16, 2017 after the lapse of ten years from January 17, 2007, which was due date for payment. The plaintiff is obvious in the record that the lawsuit of this case was filed on February 18, 2016, which was before the expiration of the extinctive prescription of the above loan claim. Thus, the defendants' defense is without merit.

3. In conclusion, the plaintiff's claim against the defendants shall be accepted on the grounds of its reasoning, and the judgment of the court of first instance with the same conclusion is just and the defendant's appeal is dismissed on the grounds of its ground, and it is so decided as per Disposition.