1. Of the judgment of the court of first instance, the part against the defendant in excess of the following amount ordered to be paid shall be revoked.

1. Facts of recognition;

A. On October 31, 2014, the Plaintiff engaged in installment financing business concluded an installment financing agreement with the Defendant (hereinafter “instant loan agreement”) with the following terms and conditions, and loaned KRW 41,500,000 to the Defendant for the purpose of automobile purchase funds.

B. According to Article 8(2) of the Credit Transaction Basic Terms and Conditions (hereinafter “Terms and Conditions of this case”), which is the content of the instant loan agreement, the obligor shall lose the benefit of time when the payment of the principal and interest repaid in installments has been delayed on more than two consecutive occasions. In this case, the obligor shall notify the obligor of the fact that the repayment of obligation was delayed and the benefit accrued therefrom was lost three business days prior to the date on which the benefit accrued

C. From July 25, 2018, the Defendant continued to pay the principal and interest repaid in installments. Of the loans under the instant loan agreement, the principal unpaid by the Defendant until September 28, 2018 is KRW 4,168,514.

[Grounds for recognition] The descriptions of Gap evidence Nos. 1 through 5, the purport of the whole pleadings

2. Determination on the cause of the claim

A. According to the facts of recognition 1 as above, the Defendant did not pay the principal and interest in installments at least twice consecutively from July 25, 2018, and the cause for loss of profit under the terms and conditions of this case occurred as the Defendant did not pay the principal and interest in installments. For this reason, the fact that the copy of the complaint of this case containing the Plaintiff’s declaration of intent to terminate the loan agreement of this case was served on the Defendant on October 15, 2018 is significant in this court.

The Plaintiff’s delivery of a duplicate of the complaint constitutes notification of the fact of delay in the performance of obligations against the Defendant and the fact that the benefit based thereon would be lost.

Therefore, the Defendant’s obligation under the instant loan agreement loses the benefit of October 18, 2018, which is three business days from the date of delivery of a copy of the instant complaint, and the due date arrives. As such, the Defendant, as to the principal amounting to the Plaintiff, KRW 4,168,514, and the agreed interest rate for delay from October 19, 2018, shall be 12.