A. On December 17, 2010, the Plaintiff loaned KRW 100 million to Defendant B at the maturity of March 17, 201 and interest rate of KRW 3% per month. As a security therefor, the Plaintiff entered into a loan agreement with the transfer of six golf club membership rights (hereinafter “instant loan agreement”) in the attached list in the name of Defendant C Co., Ltd. Co., Ltd. (hereinafter “Defendant D”) issued by Defendant D Co., Ltd. (hereinafter “Defendant D Co., Ltd.”) (hereinafter “instant golf club membership rights”). The key contents are as follows.

Article 13 (Delivery of Security) When Defendant B fails to discharge his obligation, or when the Plaintiff was requested by the Plaintiff to deliver the security for transfer for other reasons, he shall immediately deliver the security for transfer to the Plaintiff in response thereto without any objection.

Article 14 (Conversion) When Defendant B fails to perform his obligation, the Plaintiff may immediately dispose of the property transferred for security by means of an adequate method and appropriate the money for the repayment of this obligation with the proceeds of realization.

B. On December 17, 2010, the Plaintiff transferred KRW 90 million after deducting the monthly interest of KRW 3 million from Defendant B, and received six copies of the membership cards of the instant golf course from Defendant B.

C. At the time of the conclusion of the instant loan agreement, Defendant Csan prepared and issued a written confirmation stating that “The total amount of KRW 1.5 million per each of the instant golf club membership issued by Defendant C, and the total amount of KRW 630 million per six,000,000 per each of the instant golf club membership issued by Defendant C, shall be confirmed, and we agree to provide six copies of the said real membership certificates owned by us as security to the Plaintiff.”

Since then, Defendant B did not pay all the interest and principal of the above loan to the Plaintiff. Accordingly, the Plaintiff served a written complaint with the notice of complaint and the Plaintiff did not pay the loan to the Defendants.