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1. The plaintiff's claim is dismissed.
2. The costs of lawsuit shall be borne by the Plaintiff.
Reasons
1. Basic facts
A. On August 28, 2008, C and D Co., Ltd. (hereinafter “Plaintiff”) drafted a monetary loan agreement with the following content (hereinafter “instant contract”) on August 28, 2008.
Article 2 (Lease Money) The Plaintiff lent KRW 805,00,000 to C on August 28, 2008, and C borrowed the amount.
Article 3 (Ways of Repayment) Loans shall be repaid on November 30, 2008.
Article 4 (Interest) Interest on borrowed money shall be 20% per annum, and the principal and interest shall be repaid on the date of repayment under Article 3.
Article 6 (Loss of Benefit of Time) When it is objectively apparent that Article 6 (Loss of Benefit of Time) C delays the implementation of Article 3, or it is objectively apparent that C’s obligation to the Plaintiff was impossible to repay within the due date, such as when provisional attachment, seizure, auction or bankruptcy is entered into or credit is bad, and any other obligation under this contract has been defaulted, C’s obligation to the Plaintiff shall lose the due date, and the interest rate shall apply to the highest interest rate prescribed by the Interest Limitation Act, etc. after the loss of the due date.
Article 7 (Offer of Security) C will provide the following security to the plaintiff in connection with this contract:
1. C’s 161,00 common shares of E Co., Ltd. (hereinafter “E”) expected to be acquired will immediately be offered as security for transfer to the Plaintiff upon acquisition by C, and if E issues real share certificates, it will immediately be withdrawn and offered.
However, in order to guarantee security, C shall attach and deliver to the Plaintiff a written contract for the transfer of shares and a written application for the transfer of shares, etc. to ensure that C shall grant the Plaintiff the right to voluntarily supplement the documents, and if C loses the benefit of time, the Plaintiff has no objection to arbitrarily supplement the documents, and there is no limitation in exercising its rights accordingly.
3. The plaintiff shall exercise his/her right to exercise his/her voting right for secured stocks provided in relation to the above provision of security.