A. The Defendant filed a lawsuit against the Plaintiff for a loan claim with Seoul Central District Court Decision 201Ga375046, which was the Seoul Central District Court. On December 27, 2012, the lower court rendered a decision in lieu of the conciliation as stated in the attached decision, and the said decision became final and conclusive around that time.

B. On July 5, 2014, the Plaintiff failed to perform its obligation to pay the amount in lieu of the above conciliation, as stated in the separate agreement with the Defendant. Accordingly, on July 11, 2014, the Plaintiff paid KRW 15 million to the Defendant, but thereafter, failed to perform its obligation to pay the amount under the said agreement.

C. Since then, the Seoul Central District Court C and D (Dual) auction procedure was initiated with respect to the real estate owned by the Plaintiff, and thereafter, on December 28, 2015, the Seoul Central District Court C and D (Dual) distributed 100% of the amount of credit to the creditors, including the Defendant who participated in a provisional seizure based on the claim as seen earlier, and paid the surplus to the Plaintiff who is the debtor and the owner. The amount distributed to the Defendant is KRW 153,260,273 (principal KRW 53,260,273) and the amount distributed to the Plaintiff as a surplus is KRW 58,581,485.

[Ground of recognition] Facts without dispute, entry of Gap evidence 1 to 3, purport of the whole pleadings

2. Determination

A. As seen earlier, the Plaintiff’s assertion was paid out KRW 11,5 million on July 11, 2014. As so, the Defendant shall receive only dividends of KRW 111,501,175 [26,50,000 won of principal ( KRW 15 million - KRW 15,000), 26,501,175 won (the damages calculated at the rate of KRW 20% per annum from July 12, 2014 to January 31, 2016) (the damages for delay calculated at the rate of KRW 85,00,000 on the day following the above payment date). The difference between the initial Defendant’s dividend amount and the above dividend amount shall be distributed to the Plaintiff as the surplus.

B. According to the facts of recognition of the Plaintiff’s obligation to pay money to the Defendant, this agreement is concluded prior to the Plaintiff and the Defendant.