The judgment below

Of the plaintiffs, the parts of the plaintiff O, B, C, and D are reversed, and this part is reversed.

The grounds of appeal are examined.

1. The defendant's first ground for appeal

A. On March 17, 2010, the Act on Installment Transactions clearly included the scope of application of this Act in relation to prepaid installment transactions, such as ancestor worship, marriage, funeral and marriage, etc. at the time of the full revision of the Act, and made it clear that the institutional regulations have been made.

In light of the specific contents, unlike the general installment business operator, the business registration for the prepaid installment business operator is required (Article 18), the minimum amount of capital is stipulated (Article 19), the investigation and supervision of the administrative agency (Articles 35 through 37) and the corrective measures (Articles 38 through 42) were newly established, and the obligation to enter into a consumer damage compensation insurance contract (Article 27) was introduced.

(Then, the amendment of Act No. 13452 on July 24, 2015 only changed the expressions or contents of Articles 18, 19, 27, 39, and 40 in the said provision; hereinafter “Installment Transaction Act” rather than distinguishing before and after the amendment from the expressions or contents of Articles 18, 19, 27, 39, and 40. The prepaid installment transaction is paid in advance prior to the supply of goods, etc., and was newly established in order to prevent damage to consumers by preventing such transaction from causing damage to consumers and protect consumers’ rights.

(See Supreme Court Decision 2015Da50200 Decided January 14, 2016). Furthermore, the Installment Transaction Act provides for the grounds for disqualification for registration of prepaid installment trading business and grounds for revocation of registration.

First of all, Article 20 of the Installment Transactions Act provides that "a person who falls under any of the following subparagraphs shall not be registered pursuant to Article 18" with respect to the grounds for disqualification, and subparagraph 4 provides that "a person who is or was an executive officer or a controlling shareholder at the time of revocation of registration pursuant to Article 40 refers to a company that is an executive officer

This is an officer of a prepaid installment trading company or an officer of a prepaid installment trading company without requiring particular physical requirements in addition to the minimum amount of capital.