A. On December 24, 2013, the Plaintiff lent KRW 2 billion to Defendant Incorporated Incorporated Company A (hereinafter “Defendant Company”) under the following conditions (hereinafter “instant loan”). Defendant B, the representative director of the Defendant Company, jointly and severally guaranteed the above loan obligations of Defendant Company.

(1) Interest: Interest rate: 24% per annum; interest rate in arrears; 30% per annum; 24th day of each month: The due date for repayment: The amount of repayment 1 billion won for the second installment up to March 24, 2014; (3) By June 24, 2014, the borrower shall lose the benefit of time when he/she fails to pay the amount to be paid under this Agreement (Article 7 subparagraph 1); and where he/she loses the benefit of time, the borrower shall immediately repay all the loans, unpaid expenses; and all the estimated interest during the contract period.

(Article VIII(2). (b)

The Defendant Company paid only interest to the Plaintiff until March 24, 2014, and did not pay the interest and principal thereafter.

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

2. According to the above facts of determination as to the cause of the claim, the Defendant Company lost the benefit of time by delinquency in paying the principal and interest of the instant loan, and the Plaintiff and the Defendant Company agreed to pay the principal and interest to the Plaintiff immediately. As such, the Defendants jointly and severally liable to pay to the Plaintiff the principal amount of KRW 2 billion and the interest expected to be paid from March 25, 2014, which is the day following the last payment date of the interest, to the Plaintiff from March 25, 2014 to September 29, 2014, the original copy of the instant payment order was served on the Defendants, as the Plaintiff seeks, 30% per annum interest rate per annum, and 20% per annum from the next day to the day of full payment.

3. Judgment on the defendants' assertion

A. The Defendants are obligated to enter into the instant lending agreement with respect to the sale and purchase or resale agreement on a farm owned by the Defendant Company.