1. A notary public C belonging to the original district public prosecutor's office against the plaintiff of the defendant, No. 615, 2017, prepared on August 14, 2017.

1. Facts of recognition;

A. On August 14, 2017, the Plaintiff prepared and executed a notarial deed of a monetary consumer loan agreement (hereinafter “notarial deed of this case”) under Paragraph (1) stating that “The Plaintiff borrowed KRW 30,00,000 from the Defendant on March 14, 2018 at a rate of 25% per annum for the maturity of payment, interest and delay damages, and if the obligation is not fulfilled, it shall be recognized that there is no objection even if compulsory execution is performed.”

B. The Defendant paid KRW 28,500,000 to the Plaintiff on the same day, deducting the monthly interest of KRW 1,500,000.

C. The Plaintiff paid KRW 1,00,000 to the Defendant on September 12, 2017, KRW 1,000,000 on September 14, 2017, KRW 700,000 on October 15, 2017, KRW 80,000 on October 16, 2017, KRW 1,50,000 on November 15, 2017, KRW 00,00 on December 13, 200,00 on KRW 0,00 on December 1, 2017, KRW 00,00 on KRW 1,00,00 on December 8, 2017, KRW 1,000,000 on KRW 0,00 on December 11, 200,000 on KRW 1,000 on December 14, 2017, KRW 105,010.

[Ground of recognition] Facts without dispute, entry of Gap evidence 1 to 4 (including additional evidence) and the purport of the whole pleadings

2. Determination as to the cause of action

A. As a contractual interest, the portion exceeding the maximum interest rate under the Interest Limitation Act is null and void; where the obligor voluntarily pays the interest exceeding the maximum interest rate, the amount equivalent to the interest paid in excess shall be appropriated for the principal; and where the amount of deduction exceeds the amount calculated according to the said maximum interest rate based on the amount actually received by the obligor as the principal in advance, the excess portion shall be deemed appropriated for the principal (see, e.g., Supreme Court Decision 2012Da55198, Oct. 11, 2012).

As seen earlier, on August 14, 2017, the Defendant deducted KRW 1,500,000 from the monthly interest rate of KRW 1,50,000,000 for the Plaintiff. The above advance interest of KRW 1,50,000 from the monthly interest rate of KRW 25% per annum until September 13, 2017 for the amount of KRW 28,50,000 that the Plaintiff actually received.