1. The Defendant’s KRW 362,726,671 as well as the Plaintiff’s annual 6% from September 10, 201 to May 18, 2016, and the following.

Description of Claim

On August 12, 2011, the Plaintiff: (a) supplied steel ethyl with steel bars; (b) the Plaintiff agreed to pay 402,726,671 won for steel bars in installments from August 6, 201 to March 2013; and (c) at the time of the agreement, the Defendant provided joint and several surety for the payment of 362,726,671 won for the remainder of the goods excluding 40,000,000 won already paid to the Defendant; and (d) at the time of the agreement, the Defendant claimed payment for joint and several surety payment for 362,726,671 won for the remainder of the goods excluding 40,00,000 won already paid to the Defendant, and damages for delay.

Judgment without the applicable provisions of Acts (Articles 208 (3) 1 and 257 of the Civil Procedure Act)

3. The Plaintiff seeking payment of damages for delay calculated at the rate of 20% per annum from the day following the delivery of a duplicate of the complaint in this case. However, the provision on statutory interest rate under the main sentence of Article 3(1) of the Act on Special Cases Concerning Expedition, etc. of Legal Proceedings (wholly amended by Presidential Decree No. 26553, Sept. 25, 2015) that reduces the statutory interest rate from 20% per annum to 15% per annum from the day following the delivery of a duplicate of the complaint in this case, was enforced from October 1, 2015, the Plaintiff’s claim for damages for delay that exceeds the rate of 15% per annum is dismissed as there is no ground.