Korea Housing and Commercial Bank Co., Ltd. (Law Firm Gyeong & Yang, Attorney Kim Nam-nam, Counsel for the defendant-appellant)

Korea Housing Guarantee Co., Ltd. (Attorney Yang Chang-hoon, Counsel for defendant-appellant)

January 15, 2004

Seoul Southern District Court Decision 2001Da3027 Delivered on February 6, 2003

1. Of the judgment below, 17.5% per annum from September 6, 1998 to October 11, 1998; 16.4% per annum from the next day to December 20, 1998; 10.9% per annum from the next day to January 25, 1999; 10.4% per annum from the next day to the next day to May 31, 2003; and 20% per annum from the next day to the next day to the date of full payment; and the part against the defendant who ordered payment exceeding the amount equivalent to 17.5% per annum, shall be revoked; and the plaintiff's claim corresponding to the revoked part shall be dismissed.

2. The defendant's remaining appeal is dismissed.

3. The total costs of the lawsuit shall be ten minutes, one of which shall be borne by the plaintiff, and the remainder by the defendant respectively.

1. Purport of claim

The defendant shall pay to the plaintiff 1,820,000 won with 18% interest per annum from September 6, 1998 to the service date of a copy of the complaint of this case, and 25% interest per annum from the next day to the full payment date.

2. Purport of appeal

The part of the judgment of the court below against the defendant shall be revoked. The plaintiff's claim corresponding thereto shall be dismissed.

1. Quotation of the lower judgment

The reasoning of the judgment of this court is as follows, except for the addition of the following judgments, and therefore, it is cited by Article 420 of the Civil Procedure Act.

2. Determination as to the Defendant’s assertion of invalidation of a loan guarantee agreement

Since Korea Housing and Commercial Bank attempted to enter into a guarantee agreement for the above loans of 1.7 billion won and the guarantee agreement for the housing project's loan of 1.7 billion won and 1.4 billion won, if the above set-off agreement is null and void, it is alleged that the loan guarantee agreement of 1.7 billion won and 1.7 billion won and the loan guarantee agreement of 1.7 billion won and the loan of 200 million won and 9.7 billion won and the loan of 1.7 billion won and the loan of 1.7 billion won and the loan of 1.7 billion won and the loan of 1.7 billion won and the loan of 1.7 billion won and the loan of 1.7 billion won and the loan of 1.7 billion won and the loan of 9 billion won and the loan of 1.7 billion won and the loan of 9 billion won and the loan of 1.7 billion won and the loan of 9 billion won and the loan of 1.7 billion won and the loan of 1.7 billion won and the loan of 1000 billion won and the loan.

3. Conclusion

Therefore, the defendant is obligated to pay to the plaintiff 1,820,00,000 won and its delay interest rate of 17.5% per annum from September 6, 1998 to October 11, 1998; 16.4% per annum from the next day to December 20, 1998; 10.9% per annum from the next day to January 25, 1999; 10.4% per annum from the next day to May 31, 2003; and 20% per annum from the next day to the due date to the due date to the due date. Thus, the plaintiff's claim of this case is justified within the extent of the above recognition, and the remainder of the claim is justified; and the defendant's remaining part of the judgment of the court below against the defendant shall be revoked; and the plaintiff's appeal shall be dismissed as per the decision of the court below.

Judges Kim Jin-jin (Presiding Judge)