Defendant D shall pay KRW 100 million to the plaintiffs and 24% per annum from May 1, 2018 to the day of full payment.

Facts of recognition

On April 30, 2018, the Plaintiffs lent KRW 100 million to Defendant C, but on October 31, 2018, the due date for payment was set at KRW 20 million (40% per annum) until October 31, 2018 (hereinafter “the instant loan”). In order to secure the instant loan, Defendant C completed the registration of establishment of the right to collateral security on May 2, 2018 with respect to the instant loan of KRW 1,042 square meters (hereinafter “the instant real estate”) owned by Defendant C, Kimhae-si (hereinafter “the instant real estate”).

On April 30, 2018, Defendant D entered into a sales contract with Defendant C to purchase some of the instant real estate and F land, and on July 2, 2018, Defendant D completed the registration of ownership transfer under Defendant D’s name.

On June 28, 2018, Defendant D agreed to bear the instant loan, which is the secured debt of the right to collateral security established between Defendant C and the instant real estate, against Defendant D.

When the plaintiffs terminated the establishment of the right to collateral security on the real estate of this case, the defendant D obtained a loan to the plaintiffs as a collateral, and then set the right to collateral security again in the order of priority to the real estate of this case. The plaintiffs cancelled the registration of the right to collateral security on July 23, 2018.

On August 7, 2018, Defendant D drafted a confirmation document containing the following (hereinafter “instant confirmation document”) to the Plaintiffs.

The obligee: Defendant C Obligor (debtor). The amount of debt borrowed by Defendant D: the amount of money borrowed by Defendant D which is KRW 100,000,000,000, will be confirmed and the following provisions will be fulfilled:

On April 30, 2018, Defendant C (a person who borrowed the money) borrowed on April 30, 2018 and agreed to provide the money as collateral, thereby establishing a collateral on the land under his/her possession. Thereafter, Defendant C and Defendant D (the said debt) have the same content as the said amount of debt in the course of concluding a sales contract.