1. The Defendants are jointly and severally liable to the Plaintiff, and as to Taeailand 10,201,541 Franchis and Thailand 50,000 Franchis.

Facts of recognition

The Plaintiff is a corporation of Thai FS Capital (IFS Capital) that provides financial services in Singapore, Malaysia, Thailand, and Indonesia. The Defendants are all nationals of the Republic of Korea; Defendant A is a major shareholder of C Co., Ltd (C.; hereinafter “C”); and Defendant B is a major shareholder of C Co., Ltd. (hereinafter “C”); and Defendant B is a staff member of C.

On December 3, 2009, the Plaintiff and C entered into a contract for the provision of factoring financial services, and on April 4, 2012, based on C’s written request, the Plaintiff agreed that C shall pay to a third party goods or raw materials price (the maximum limit 5,00,000 fee) to be purchased from an unspecified third party, and C shall be deemed to have borrowed purchase fund from the Plaintiff, and C shall be deemed to have borrowed the purchase fund from the Plaintiff, and C shall pay the fees equivalent to 0.5% of the claimed amount to the Plaintiff within three days from the date of payment, and shall repay the borrowed amount within 60 days from the date of payment, and shall pay the first payment (the amount based on the ratio of 9.375% per annum from the date of payment to the date of transfer of collection right or repayment to the Plaintiff) and the rate of delay damages shall be 15% per annum.

Upon C’s request, the Plaintiff increased the maximum limit of the amount paid on February 13, 2013 to 10,000,000.

On April 4, 2012, the Defendants concluded a joint and several guarantee agreement (hereinafter “instant joint and several guarantee agreement”) with the Plaintiff and C to jointly and severally pay various expenses, including interest, penalty, compensation, and non-performance obligations under the said agreement, and the legal expenses required to be paid damages to the guarantor.

On October 15, 2013, upon C’s request for payment on October 14, 2013, the Plaintiff paid C the purchase price of KRW 10,000,000 to Thailand (Mitsuu& Co. (Tiland) corporation (Tiland).

On April 23, 2015, the Plaintiff spent US$8,000 for the instant lawsuit.