1. The Defendants jointly share KRW 123,712,329 with respect to the Plaintiff and 5% per annum from August 6, 2016 to July 11, 2019.

Facts of recognition

On February 5, 2015, when the Plaintiff intended to borrow KRW 1100 million from the Defendants, the Plaintiff signed and sealed a loan certificate (No. 2,75 million) stating that the Plaintiff borrowed KRW 275 million from the Plaintiff’s debtor, and delivered it to the Defendants. immediately thereafter, the Defendants paid the land purchase fund of KRW 110 million on the basis of the above loan certificate, and the Defendants received KRW 275 million directly from the Plaintiff’s debtor’s repayment on August 5, 2016 based on the Plaintiff’s loan certificate, or can be recognized by comprehensively taking account of the following: (a) there is no dispute between the parties; (b) the statement of KRW 275 million and the purport of the entire pleadings; and (c) the purport of the entire pleadings.

According to the fact that the Defendants received the repayment of the borrowed amount, the remainder, excluding the principal amount of KRW 110 million, out of KRW 275 million, is subject to the Interest Limitation Act. Article 2(1) of the Interest Limitation Act (Law No. 1227, Jan. 14, 2014, which was amended from July 15, 2014, effective from July 15, 2014) provides that the highest interest rate shall be 25% per annum. Thus, Article 3(3) and (4) of the same Act (i.e., the excess amount of KRW 165 million, i.e., the principal amount of KRW 165 million from February 5, 2015 to August 5, 2016, the interest amount of KRW 41,287,6710,000,000,000,000 won x KRW 12635,250,000).

Therefore, the Defendants are jointly obligated to pay interest KRW 123,712,329, and damages for delay calculated at the rate of 5% per annum under the Civil Act and 12% per annum under the Act on Special Cases Concerning Expedition, etc. of Legal Proceedings, from August 6, 2016 to July 11, 2019, where it is deemed reasonable for the Defendants to dispute about the existence and scope of their obligations to pay to the Plaintiff in excess of the maximum interest rate, as well as from August 6, 2016.

As to this, the Defendants are loans of KRW 275 million.