1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

[Claim]

1. Determination as to the cause of claim

A. On April 16, 1997, Gosan Agricultural Cooperative loaned KRW 20,000,000 to the Defendant at an overdue interest rate of KRW 16% per annum and on July 16, 1997 (the later repayment date was extended on July 16, 1998).

(2) However, the Defendant did not repay the above loans even after the repayment date, and on August 23, 2012, Gosan Agricultural Cooperatives transferred the above loans to the Plaintiff pursuant to Article 30 of the Act on the Structural Improvement of Agricultural Cooperatives, and notified the Defendant of the transfer of the above loans on July 20, 2015.

3) Meanwhile, on May 10, 2015, the Defendant’s principal and interest to be borne by the Defendant pursuant to the above loan agreement as of May 10, 2015 (i.e., the principal and interest to be borne by the Defendant (i.e., KRW 19,900,000 interest on the principal and interest of the loan) is KRW 58,17,975 (i.e., KRW 19,90,00), prior to the application for the instant payment order. [In the absence of dispute

B. Therefore, barring any special circumstance, the Defendant is obligated to pay to the Plaintiff the amount of KRW 78,077,975, the sum of the principal and interest of the loan, and KRW 19,900,00,00, which is the principal of the loan, as requested by the Plaintiff, 16% per annum on the basis of the agreement from May 11, 2015 to May 19, 2015, when the original copy of the instant payment order arrives at the Defendant, and delay damages calculated at the rate of 16% per annum as stipulated in the Act on Special Cases Concerning the Promotion, etc. of Legal Proceedings from the next day to the date of full payment.

2. Determination as to the defendant's assertion

A. The Plaintiff’s claim for the loan of this case, which is the gist of the assertion, has expired with the extinctive prescription under the Civil Act or the Commercial Act.

B. Comprehensively taking account of the overall purport of the arguments in the statement No. 4 of the judgment of the court below, the following facts are as follows: ① the maturity period of the instant loan claims is July 16, 1998; ② the high agricultural cooperative filed a lawsuit against the defendant on Nov. 28, 2005 against the defendant on Nov. 28, 2005; ③ the defendant argued against the demand of the high agricultural cooperative.