A. The Plaintiff entered into a contract with Defendant A Co., Ltd. (hereinafter “Defendant Co., Ltd.”) with the terms of lending KRW 60,200,000 to the Defendant Co., Ltd. (hereinafter “Defendant Co., Ltd.”), setting the lending period of KRW 36 months, lending rate of KRW 10.5% per annum, and delay damages rate of KRW 25% per annum (hereinafter “instant lending contract”).

B. On March 5, 2014, the Plaintiff entered into a lease agreement with the Defendant Company (hereinafter “instant lease agreement”) with the purport that the Plaintiff shall set the principal amount of motor boats to KRW 113,60,000 for the Defendant Company, KRW 36 months for the lease period, KRW 2,590,70 for the lease fee, KRW 25% for the lease fee, and delay damages as KRW 25% per annum.

C. Defendant B jointly and severally guaranteed the above loan payment obligation and the lease payment obligation.

Since then, each of the instant contracts was terminated due to the delinquency in payment of lease fees and repayment of loans by the Defendant Company. On July 16, 2014, the settlement amount such as lease fees and loans that the Defendant Company should pay to the Plaintiff is KRW 150,58,729.

Therefore, the Defendants are jointly and severally liable to pay to the Plaintiff the aforementioned KRW 150,588,729 as well as damages for delay at the rate of 25% per annum from July 17, 2014 to the date of full payment.

2. Judgment with no applicable provisions of Acts (Articles 257 (1) and 208 (3) 1 of the Civil Procedure Act);