1. The Defendant shall pay KRW 50 million to the Plaintiff the annual interest rate of KRW 150 million from October 24, 2015 to the day of full payment.

On July 8, 2014, the Plaintiff agreed to settle the principal, interest, and all other expenses of the loan that the Defendant and the Plaintiff lent to the Defendant up to that time at KRW KRW 550 million and the Defendant paid the said money to the Plaintiff up to August 30, 2014.

Therefore, barring special circumstances, the defendant is obligated to pay to the plaintiff the above agreed amount of KRW 550 million and damages for delay calculated at the rate of 15% per annum from October 24, 2015 to the date of full payment, as requested by the plaintiff, following the delivery date of the application for payment order, as requested by the plaintiff.

[3] Article 208(3)3 of the Civil Procedure Act provides that “The Defendant shall be required to specify a claim pursuant to Article 208(3)3 of the Civil Procedure Act on the date of pleading because the Defendant was notified of the date by public notice pursuant to Articles 194 through 196 of the Civil