A. On December 12, 2013, the Plaintiff and the Defendant entered into an agreement with the Plaintiff on the establishment of the Scholarship Foundation (hereinafter “instant agreement”) with the effect that “if the Plaintiff deposits KRW 1.8 billion in the deposit account of a school operated by the Defendant, the Defendant shall use the said money solely for the purpose of establishing the Scholarship Foundation, and that the establishment of the Scholarship Foundation shall only take place (3 to 6 months) for the ordinary period of time (3 to 6 months). If the establishment of the Scholarship Foundation causes a disturbance or a situation in which the said money is not invested into another Scholarship Foundation, all actions related to this agreement shall be null and void, and the said money shall be returned at the same time (hereinafter “instant agreement”).

B. On December 12, 2013, the Plaintiff deposited KRW 1.8 billion in the deposit account of C Schools, and contributed funds for the establishment of the Scholarship Foundation under the instant agreement.

C. However, the Defendant did not establish the Scholarship Foundation under the instant agreement even until November 19, 2014, which was the date of the conclusion of the instant agreement, six months after the date of the conclusion of the instant agreement.

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

2. Determination

A. According to the facts of recognition of the obligation to return contributions, the Plaintiff and the Defendant agreed to contribute funds for the establishment of the Scholarship Foundation, but the Plaintiff did not establish the Scholarship Foundation within six months to return KRW 1.8 billion invested by the Plaintiff, the Plaintiff paid KRW 1.8 billion to the Defendant for the establishment of the Scholarship Foundation in accordance with the instant agreement, and the Defendant did not establish the Scholarship Foundation even six months after the date of conclusion of the instant agreement.

In light of the above circumstances, the Defendant is obligated to pay to the Plaintiff a contribution of KRW 1.8 billion and damages for delay calculated at the rate of 20% per annum from August 8, 2014 to the day of full payment, which is the day following the delivery of the instant complaint, to the day of full payment.

B. The defendant.