1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

3. The judgment of the court of first instance is ordered.

A. On November 24, 1995, the Defendant entered into a credit card use agreement with the Seoul Bank (hereinafter “SIB”) on November 24, 1995, with the Seoul Bank (hereinafter “SIB”), and agreed to pay damages for delay in addition to the interest rate determined by the non-party bank if the credit card fee is overdue.

The overdue interest rate determined by the bank is 24% per annum from December 11, 1997 to January 9, 1998, 30% per annum from the next day to December 31, 1998, 28% per annum from the next day to May 23, 2001, 24.5% per annum from the next day to December 1, 2002, and 24% per annum from the next day to December 1, 2002.

On September 17, 1999, the non-party bank transferred the credit card payment claim against the defendant to the plaintiff (the Korea Assets Management Corporation prior to the amendment of the Act). Around that time, the non-party bank notified the defendant of the assignment of the credit, and as of July 7, 2003, the principal and interest of the credit card payment claim is as follows:

The above-mentioned facts are as follows: (a) interest or delay damages that the Plaintiff acquired from the non-party bank 4,825,540 won in total 443,280 won 4,946,442 won 10,215,262 won** (b) interest or delay damages that the Plaintiff acquired from the non-party bank 10,215,262 won * (i) the ground for recognition of delay damages, calculated by applying the interest rate for each period from August 1, 1998 to July 7, 2003 by the non-party bank 5,6, 7, 8, and 9 respectively, and the ground for the entire argument, based on the above-mentioned facts: (c) the Defendant is liable to pay the Plaintiff the interest or delay damages calculated on July 7, 2003 by the rate of 10,215,262 won, which is the principal, and 4,825,540 won per annum from July 24, 2003.

The defendant's assertion that the statute of limitations has expired from 1995 to 5 years, and the plaintiff has suspended the statute of limitations due to the defendant's acceptance of debt and the lawsuit of this case.