A. Defendant C Co., Ltd (hereinafter “Defendant C”) received a contract for the installation work from Defendant C Co., Ltd. on May 2008, and around May 2008, Defendant C subcontracted the construction work of machinery and equipment to Defendant B, among the construction work of F apartment located in Thai City E, etc.

The Plaintiff agreed with Defendant B to provide human resources to the above construction work and receive wages, and supplied the said human resources at the construction site.

The following borrowers shall jointly pay 49,500,000 won as interest on a monthly loan, if the borrower is unable to pay by December 31, 2010.

Provided, That interest shall be paid on the last day of each month.

on November 9, 2009: Defendant C Co., Ltd.

B. Around May 2009 due to the financial shortage of D Co., Ltd., the Corporation ceased to receive wages, and the Plaintiff was not entitled to receive wages, on November 9, 2009, the Defendants drafted a loan certificate (No. A. 1; hereinafter “the instant loan certificate”) with the following content to the Plaintiff.

C. The Defendants paid interest pursuant to the above loan certificate to the Plaintiff by September 30, 2010, and thereafter, did not pay interest.

[Ground of recognition] Facts without dispute, Gap evidence 1, Eul evidence 1, Eul evidence 1, 2, and 3, the purport of the whole pleadings

2. In full view of the facts of the judgment as to the cause of the claim and all the circumstances revealed in the entire pleadings, upon the Plaintiff’s failure to receive wages for the human resources invested at the construction site, the Defendants sought payment from the Defendants. Accordingly, upon the Plaintiff’s request, the Defendants determined the Plaintiff’s obligation to the Plaintiff at KRW 49,50,000, and deemed that the Plaintiff prepared the instant loan certificate.

Therefore, it is reasonable to view the agreement based on the instant loan agreement (hereinafter “instant agreement”) as a quasi-loan agreement or a novation agreement concluded to adjust the claims and obligations between the Plaintiff and the Defendants.