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

Purport of claim and appeal

1..

A. On September 25, 2015, the Plaintiff entered into a installment financing contract with the Defendant on a monthly installment payment of KRW 30,000,000 for the purchase of IMS sports equipment under the name of the Defendant (hereinafter “instant contract”) with the effect that the Plaintiff loans KRW 30,00,000 to the Defendant by setting the monthly installment payment of KRW 996,420, the installment payment period of KRW 36 months, the interest rate of KRW 12% per annum, and the overdue interest rate of KRW 25% per annum.

B. The Defendant lost the interest of the due date on June 21, 2017 because it did not pay the Plaintiff at least three consecutive occasions.

C. As of July 11, 2017, the balance of the claim under the instant contract is the principal of KRW 16,339,800, interest of KRW 55,940, and delay damages of KRW 102,330.

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

2. According to the above facts finding as to the cause of the claim, the Defendant is obligated to pay to the Plaintiff the sum of the principal and interest of KRW 16,98,070 as well as the interest of KRW 16,339,80 as to the principal and interest of KRW 16,39,80 as well as damages for delay calculated at the rate of 25% per annum from July 12, 2017 to the date of full payment.

3. Judgment on the defendant's assertion

A. The loan under the instant contract, which was concluded in the name of the Defendant’s purport of the Defendant’s assertion, was loaned in order to cover the deposit for lease by establishing a health club by B and C, and the Plaintiff concluded the instant contract with the Defendant with the intent of not imposing liability on the lender, even though it was an actual loan to B and C with the intent of being aware of such circumstance. Thus, the said contract constitutes a false declaration of conspiracy, and thus, is null and void.

B. In order to establish a false declaration of conspiracy, there must be an agreement between the other party and the other party as to the disagreement, and if a third party directly signed and sealed the loan-related documents, such as a monetary loan agreement, etc., as the principal debtor or joint guarantor, the third party himself.