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1. The Defendant’s KRW 168,081,933 as well as the Plaintiff’s annual rate from May 17, 2018 to February 13, 2019, and the following.
Reasons
Based on the facts, the Plaintiff loaned a sum of KRW 967 million to the Defendant, as stated in the “loan” column in attached Table 1 from February 27, 2009 to April 13, 2012, to the account in the name of the Defendant or the Defendant-friendly C (hereinafter “D”) with which the Defendant or the Defendant was the representative director.
From March 31, 2009 to April 14, 2012, the Defendant repaid to the Plaintiff a total of KRW 883 billion, as indicated in the attached Table 1’s “payment” column.
[Ground of Recognition: Facts without dispute] The Plaintiff asserted that the cause of the claim was determined by the Plaintiff, while lending money as shown in the attached Table to the Defendant, lent the money to the Defendant in excess of the maximum interest rate prescribed by Article 2(1) of the Interest Limitation Act and Article 2(1) of the former Interest Limitation Act (amended by Presidential Decree No. 25376, Jun. 11, 2014). The Plaintiff received money from the Defendant as shown in the attached Table.
The Plaintiff calculated based on 30% per annum, which is the highest interest rate prescribed by the Interest Limitation Act at the time, and sought 268,919,275 won, which is the remainder of the principal and interest as of April 14, 2012, and 15% per annum from April 15, 2012, which is the date following the date of final appropriation for payment.
Judgment
In full view of the following circumstances acknowledged by the agreement between the Plaintiff and the Defendant based on the agreed interest rate, Gap evidence Nos. 1 and 2, and the purport of the entire pleadings, it is recognized that the agreement between the Plaintiff and the Defendant was concluded at least in excess of the maximum interest rate prescribed in Article 2(1) of the Interest Limitation Act and Article 2(1) of the former Regulations on the Maximum Interest Rate Limitation (amended by Presidential Decree No. 25376, Jun. 11, 2014) until each loan contract is concluded between February 27, 2009 to July 16, 2010. Thus, the agreement by 30% per annum can be acknowledged in accordance with the said provisions.
However, from September 20, 2010 to September 60, 2010, the agreement between the Plaintiff and the Defendant is based only on the evidence Nos. 1 and 2.