A. On March 19, 2012, Love Co., Ltd. (hereinafter “ Love”) entered into a lease agreement with the Defendant, setting the lease amount of KRW 490,00,000 for the real estate listed in the separate sheet (hereinafter “instant real estate”) as KRW 14,20,000 for a period of seven years from the beginning date of the lease term, and the lease agreement was concluded with the Defendant, and the Defendant established and operated “C points” upon delivery of the instant real estate from love around that time.

Article 9 (Increase or Decrease of Rent) of the above lease agreement provides that “The rent shall be raised by mutual consultation in consideration of price fluctuations, business conditions, etc. after the lapse of four years after the expiration of the contract period.” In addition, “A” stipulates that “B (the Defendant’s horse) shall give the preferential right to negotiate the lease agreement after the expiration of the contract period.”

B. On June 3, 2015, the Plaintiffs acquired ownership as to each of the shares of 1/2 out of the instant real estate, and thereafter the Plaintiffs acquired ownership.

On June 23, 2015, the term of lease of the instant real estate was set as KRW 490,000,000 for the lease deposit, KRW 14,200 for the rent, and KRW 14,200 for the rent (in addition, the additional tax was paid by the end of the relevant month) between the Defendant and the Defendant on June 1, 2015, and concluded the lease contract (hereinafter “instant lease contract”).

Article 4(5) of the instant lease agreement provides that “The rate of delay damages for the payment of rent shall be 2% per month, and Article 9 (Increase or Decrease of Rent) stipulates that “The rent shall be increased by mutual consultation in consideration of price fluctuations, business conditions, etc. after the lapse of one year from the contract term.” In addition, Article 4(5) of the instant lease agreement provides that “A(the Plaintiff’s horse) shall give the Defendant the preferential right to negotiate the lease agreement after the expiration of the contract term.”

(hereinafter referred to as "the above provision" is referred to as "the conciliation provision of this case" (c).

The Plaintiffs are the Defendant on March 11, 2016.