2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1..

A. On December 23, 2015, the Defendant entered into a long-term lease contract (hereinafter “instant contract”) with the Plaintiff, which is a juristic person for the purpose of automobile rental business, with the same content as the attached Form.

(The overdue interest rate shall be 24 per annum). (b) The overdue interest rate

As the Defendant did not pay monthly rent under the instant contract to the Plaintiff, on May 14, 2018, the Plaintiff notified the Defendant that the instant contract was terminated unless the Plaintiff deposits the unpaid rent of KRW 1,848,000 to the Defendant by May 18, 2018.

C. On September 10, 2018, the Plaintiff terminated the instant contract, and as at the time of termination, 1) unpaid monthly rent 2,464,00 won from April 1, 2018 to September 10, 2018; 2) penalty for early termination (total rental fee - rental fee for the contract period - rental fee for the term), 1,384,500 won under an agreement to bear the indemnity lessee 1,00, total amount of KRW 3,912,500 (3) was unpaid. [In the absence of dispute between the parties to the grounds for recognition, the respective entries in subparagraphs 1 through 7, and the purport of the entire pleadings as a whole.

2. Determination

A. According to the above facts finding as to the cause of the claim, as the contract of this case is terminated upon termination, the Defendant, a lessee, is obligated to pay the Plaintiff, a lessor, the sum of unpaid monthly rent, early cancellation penalty, and exemption amount of KRW 3,912,50, and damages for delay calculated at the rate of 24% per annum, which is the overdue interest rate, from September 11, 2018 to the date of complete payment, following the termination date of the contract of this case.

B. The Defendant’s assertion 1) The Defendant’s assertion that the Plaintiff proposed that the nominal owner of the instant contract be changed to the nominal owner by himself/herself, but failed to implement it. 2) The Plaintiff is obligated to change the nominal owner of the instant contract by himself/herself and discharge the Defendant from liability, as alleged by the Defendant.

However, there is no evidence to acknowledge that the Plaintiff and the Defendant agreed as above, the Defendant’s assertion.