1. As to KRW 530,865,392 and KRW 278,00,00 among the Plaintiff, the Defendant shall annually pay to the Plaintiff KRW 530,865,392 from February 21, 2013 to July 14, 2014.

1. Basic facts

A. From January 20, 2006, the Defendant borrowed money from the Plaintiff on several occasions (3 to 6 months, interest rate of 3% per month) and calculated the settlement on October 20, 2009, and prepared a statement of performance (hereinafter “instant statement of performance”) with the following contents written to the Plaintiff.

The following shall be implemented by each letter (hereinafter referred to as the "defendant") of this title:

Debt Amount: 278 million won

1. The defendant shall pay to the creditor A KRW 100 million by October 31, 2009. If this is the way, it shall be civil and criminal liability, and any punishment shall be imposed.

2. The interest on the debt amount of KRW 150 million shall be paid in 4.5 million per month on the 10th of each month.

4. The interest on the unpaid amount shall be paid later on October 29, 2009.

B. After the preparation of the above written statement of performance, on February 28, 2010, the Defendant again drafted to the Plaintiff a written confirmation of the following contents:

Account payable at least 7,989,00 won

1. Each letter (Defendant) does not pay to the creditor A (Plaintiff) interest of KRW 128 million out of the amount of debt, and confirms that it is the balance by the present date in accordance with its standard.

2. Ascertainment that principal amount is KRW 278 million, interest, KRW 79890,000,000 in total, and KRW 35789,000 in total.

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1 through 3, 7 (including paper numbers; hereinafter the same shall apply), Eul evidence Nos. 1 and 2, and the purport of the whole pleadings

2. Determination as to the cause of action

A. According to the provisions on the maximum interest rate under Article 2(1), (2), (3), and (4), and Article 3 of the former Interest Limitation Act (amended by Act No. 12227, Jan. 14, 2014); and Article 2 of the Addenda (amended by Act No. 12227, Jan. 14, 2014), the maximum interest rate under a contract for lending and borrowing of money is 30% per annum from June 30, 2007 to July 14, 2014; 25% per annum thereafter; and the maximum interest rate under the Interest Limitation Act as a contractual interest.