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1. The Defendant’s KRW 160,000,000 as well as 5% per annum from November 7, 2018 to November 29, 2018 to the Plaintiff.
Reasons
1. The Defendant asserted that the Plaintiff traded a transaction to lend money at a 10% high interest rate for the Plaintiff who was economically in old age. The Defendant received interest equivalent to KRW 197,760,480 from the Plaintiff in excess of the highest interest rate prescribed in the Interest Limitation Act from June 4, 2007 to May 21, 2017.
Since the defendant is obligated to return this as unjust enrichment, it is demanded to recover the amount of KRW 160 million, which is part of that obligation.
2. In full view of the purport of the entire pleadings in each statement in Gap's evidence Nos. 1, 2, 4, and Eul evidence Nos. 6-8 (including additional numbers; hereinafter the same shall apply), the Plaintiff may recognize the fact that the Plaintiff borrowed a total of KRW 271,723,000 from the defendant to May 21, 2017, and paid a total of KRW 469,483,480 to the defendant to repay the debt, as shown in the attached Table, as the interest rate of 10% from June 4, 2007 to May 21, 2017.
The highest interest rate prescribed in the Interest Limitation Act is ① (i) the annual interest rate prescribed in Article 2(1) of the former Interest Limitation Act (amended by Act No. 10925, Jul. 25, 201) from June 30, 2007 to July 14, 2014; (ii) 30% per annum prescribed in Article 2(1) of the former Interest Limitation Act (amended by Presidential Decree No. 25376, Jun. 11, 2014); and (iii) the annual interest rate prescribed in Article 2(1) of the Interest Limitation Act from July 15, 2015 to July 25, 2015.
Therefore, the interest rate applicable to a monetary transaction between the Plaintiff and the Defendant is 10% per month, which is the agreed interest rate until June 29, 2007, before the enforcement of the former Interest Limitation Act enacted by Act No. 8322, and 30% per annum, which is the maximum interest rate under the Interest Limitation Act, from June 30, 2007 to July 14, 2014, and 25% per annum, which is the maximum interest rate under the Interest Limitation Act, from July 15, 2014 to July 15, 2014.
Article 2 (4) of the Interest Limitation Act provides that where an obligor has voluntarily paid the interest exceeding the maximum interest rate, the amount equivalent to the interest paid in excess shall be appropriated for the original and the original shall be extinguished.