The Defendant, upon entering into the instant investment contract, is the Chairperson C Co., Ltd. (hereinafter referred to as “C”), is the F Vice President, a corporation located in the Republic of Korea of the investment company E located in Hong Kong, who has been promoting the Incheon Free Economic Zone D Development Project (hereinafter referred to as the “instant project”), and G is the representative director of C.

The Defendant, at the office located in Gangnam-gu Seoul on September 18, 2007, conducted both the vice president of F, the vice president of F, and explained to the Plaintiff that “The instant project promoted by F, in which Dub Capital participates, was to invest KRW 5 billion after the success of the project supervised by Incheon City, which is guaranteed, C has already been in place, and there is a lack of KRW 1 billion, and I would also invest KRW 400 million as a good business opportunity, and therefore, the remaining amount of KRW 60 million will be invested, and if a special purpose corporation (SPC) is not established by December 31, 2007, it would return the full amount of the investment.”

On September 18, 2007, the Plaintiff entered into an investment contract (hereinafter “instant investment contract”) with C, stating that “C invests in the instant business promoted by E, and the Plaintiff’s investment funds are used only for business purposes, and if the business is failed, it would return the investment funds from E” (hereinafter “instant investment contract”), and paid the sum of KRW 300 million on September 18, 2007 and KRW 600 million on September 19, 2007.

However, at the time, C did not raise funds of KRW 4 billion to invest in the instant business, and I was not finally determined to invest KRW 400 million in D business, and the Defendant and G had failed to perform multi-stage sales business of merchandise coupons until March 2007 and received a request for the return of the investment amount from the investors.

On the other hand, the defendant only remitted 300 million won out of 600 million won invested by the plaintiff to the account designated by J of the E representative director, and most of the remaining money are merchandise coupons C.