A. Defendant (Counterclaim Plaintiff) Co., Ltd. is KRW 666,66,982 and KRW 30 million among them.

A. The Plaintiff is a corporation that runs the business of selling aggregate, etc., and the Defendant Company is the owner of the baseline E (hereinafter “instant vessel”), and the Defendant C and D are the joint representative directors of the Defendant Company.

B. On March 2016, the Plaintiff concluded a time charter with the Defendant Company, setting the period of use from April 1, 2016 to March 31, 2017, with respect to the instant vessel in the name of the Co., Ltd., and concluded a monthly charterage of KRW 60 million, but did not commence the charter of the instant vessel until May 2017.

C. On May 18, 2016, the Plaintiff and the Defendant Company drafted a time charter with respect to the instant vessel as follows:

(hereinafter referred to as “instant charter contract”): From May 27, 2016 to May 26, 2017, the period of use under Articles 2 and 3: 3,016 tons of raw goods of a vessel: approximately 10 Knots and the period of use under Article 2.

· Article 3: The monthly rent of one month for hire shall be KRW 60 million in won.

(Additional Tax is separate). Article 4: Method of payment and payment guarantee for charterage

1. The payment of charterage shall be calculated on a 15-day basis and shall be paid five days prior to the commencement of each month;

Provided, That the first charterage shall be paid in advance at least 30 million won before the commencement of charter.

2. The charterer shall provide the shipper with a “written consent of direct payment” to pay the charterage to the shipowner’s designated account for the payment of charterage during the charter period or for the faithful performance of the present charter party (the owner of the cargo to be transported by the vessel during the charter period) by the time of signing this charter party.

3. If the above charterage payment terms are not fulfilled, the owner of the vessel may exercise the right of possession or lien over the cargo to be transported, or the cargo, etc. being loaded on or in transit.

· Article 5: Conditions and conditions of the acceptance of the vessel and those of the acceptance of the vessel at the place shall be the condition that the charterer is in the state of the vessel’s inspection around February 15, 2016.