A. On September 17, 2007, the Plaintiff and D Co., Ltd. (hereinafter “D”) entered into an agreement with the Defendant on the following terms and conditions (hereinafter “instant agreement”).

1. The Plaintiff shall invest KRW 500 million in D in relation to the business of constructing multi-family housing in Nam-gu, Nam-gu, Gwangju (hereinafter “instant business”).

2.D shall pay KRW 500 million to the Plaintiff’s investment principal at the time of the instant business-related finance loan.

3. The plaintiff's earnings shall be 100%, and the timing of settlement of earnings shall be when D receives earnings from the business of this case.

B. The Plaintiff paid KRW 500 million to D from April 18, 2007 to September 11, 2007.

C. On the other hand, D was not subject to the PF loans in relation to the instant business, and D was dissolved on December 2, 2013 pursuant to Article 520-2(1) of the Commercial Act (the provision on deemed dissolution of a dormant company).

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1 and 2, the purport of the whole pleadings

2. Determination

A. According to the above facts of determination as to the cause of the claim, since D agreed to refund the Plaintiff the investment amount of KRW 500 million, the Defendant, as a joint and several surety, is obligated to pay the Plaintiff damages for delay calculated at the rate of KRW 500 million per annum from December 17, 2016 to the date of full payment, as claimed by the Plaintiff, to the day following the delivery of the original copy of the instant payment order, as the Plaintiff’s joint and several surety, to the day of full payment.

B. The Defendant’s assertion (1) (A) asserts that D did not have a duty to return the investment amount of KRW 500 million to the Defendant on the condition that D “the instant financial right PF loan” was “the investment amount of KRW 500 million” but the conditions were not fulfilled.

(B) It is reasonable to deem that, with respect to a juristic act to which the subsidiary was attached, if the facts indicated in the subsidiary do not occur, the subsidiary would not perform the obligation.