Late Payment Interest Calculator (Korea)
Calculates late payment interest on an unpaid sum by date: 5% civil, 6% commercial or an agreed rate, switching to the 12% litigation rate after the complaint is served. Korean only.
How to use
- Enter the principal, the first and last day of interest, and pick the rate.
- Add the day after the complaint was served to switch to the litigation rate.
FAQ
What are the rates?
5% under the Civil Act, 6% for commercial debts, and 12% (since 2019-06-01) from the day after the complaint is served under the Act on Special Cases Concerning the Expedition of Legal Proceedings. Agreed rates above 20% are capped at 20%.
AI agents: this calculation is available over an API without the form — see /llms.txt and the tool list at /api/calc; confirm the final result on this page.