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1. The Plaintiffs’ debt amounting to KRW 1,300,000 under the Investment Agreement dated September 29, 2016 against the Defendant does not exist.
Reasons
1. Basic facts
A. From December 2015, the Defendant promoted the business of newly constructing and selling sirens on the land of Pyeongtaek-si D, E, and F (hereinafter “instant business”).
A borrower: A representative G H, a joint guarantor: A plaintiff B, an investor: The terms and conditions of the defendant agreement.
1. Investment amount: Land contract amount invested by KRW 280 million and expenses for the civil engineering and design of construction works;
2. Date of borrowing: The period of borrowing on December 3, 2015: From December 1, 2015 to June 4, 2017: KRW 400 million including the principal and profits.
5. Loan condition 1) The Defendant shall invest KRW 280 million in H. H. The Defendant shall pay KRW 400 million, including the investment principal and profits, to the Defendant until June 30, 2017. 2) The Plaintiff B, the representative of G and the joint and several surety, jointly and severally liable for KRW 400 million, including the investment principal and profits.
3) All monetary or civil and criminal responsibilities arising in connection with the overall business of the G will be carried out by the representative H of G and the Plaintiff B, a joint and several surety. B. On June 2016, G representative H, Plaintiff B and the Defendant’s Investment Agreement (hereinafter “instant First Agreement”), and the relevant contract is “instant First Agreement”.
(c) H and Plaintiff B, etc., to be converted into G as a legal entity, are as follows. On August 9, 2016, Plaintiff A Co., Ltd. (hereinafter “Plaintiff Company”).
The plaintiff B was a representative director, H, I, and J was appointed as an in-house director.
The borrower: H and the plaintiff B, the investor: The terms and conditions of the defendant agreement;
1. Investment amount: 280 million won;
2. Date of borrowing: The period of borrowing on September 29, 2016: The amount to be repaid on September 29, 2016 or on June 4, 2017: KRW 1.3 billion including the principal interest.
5. Loan condition 1) The Defendant invests KRW 280 million in the Plaintiff Company, and the Plaintiff Company shall pay KRW 500 million, including the investment principal and profits, to the Defendant until December 31, 2016. (2) As to the above investment amount and KRW 800,000,000,000,000 to the Defendant.