On August 7, 2008, the Plaintiff entered into a sales contract (hereinafter “instant sales contract”) with Defendant C (Defendant B’s wife) with a price of KRW 2.4 billion (20 million for the first intermediate payment: KRW 200 million at the time of entering into the contract: at the time of entering into the contract, KRW 200 million for the second intermediate payment: KRW 1 billion for the second intermediate payment: KRW 8 billion on September 9, 2008 and KRW 1 billion for the remainder of KRW 1 billion:0 billion on October 8, 2008 and November 10, 2008). The Plaintiff agreed to pay KRW 50 million equivalent to the transfer income tax to be imposed on Defendant B in the future (hereinafter “instant sales contract”).

The Plaintiff paid KRW 200 million to Defendant B on the date of the conclusion of the instant sales contract, and the Plaintiff’s representative director E issued a promissory note No. 1 (hereinafter “instant promissory note”) with the Defendant B, face value of KRW 300 million, and the due date of November 8, 2008, which was August 8, 2008, and delivered to Defendant B for payment of KRW 300 million of the said transfer income tax.

The Plaintiff failed to pay KRW 2.2 billion out of the purchase price of this case to Defendant B by the date stipulated in the instant sales contract. Accordingly, on November 14, 2008, Defendant B sent to the Plaintiff a letter-certified mail stating that the instant sales contract will be rescinded if the remaining amount is not paid to the Plaintiff by November 30, 2008.

On December 19, 2008, G of the Plaintiff and Plaintiff F’s major shareholder paid to Defendant B the sum of KRW 200 million for the first intermediate payment under the instant sales contract on March 31, 2009, and the second intermediate payment and the remainder on June 10, 2009. G guarantees each of the above intermediate payment and the remainder payment obligations. If the Plaintiff fails to perform this, the instant contract is terminated due to the Plaintiff’s cause attributable to the Plaintiff, and the Plaintiff provided it to Defendant B.