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1. The defendant shall pay 350,000,000 won to the plaintiff and 20% per annum from April 18, 2013 to the day of complete payment.
Reasons
1. Basic facts
A. On April 26, 2011, the Plaintiff entered into a film investment contract with the Defendant to invest KRW 350,000,000, which is 50% of the net production cost of the Defendant’s film “A” (hereinafter “instant film”) produced by the Defendant, and to have the right to share an amount equivalent to 60% of the Plaintiff’s share ratio (50%) out of the total profits generated from the said film (hereinafter “instant contract”).
The main contents of the instant contract are as follows.
Article 2 (Subject Matter of Contracts)
1. The summary of the instant film, which is the subject matter of this Agreement, is as follows:
The name of a work: The defendant size: The supervision of a motion picture for the theater: B: C and D opening time: The net production cost during the year 201: 700,000,000 won (rights and obligations)
1. The Plaintiff’s rights and duties (1) The Plaintiff shall make an investment of KRW 350,00,000, out of the net production cost of the instant film, to the Defendant, and shall transfer the film to the old account designated by the Defendant within seven days after the conclusion of this contract.
② Pursuant to subparagraph 1 of this paragraph, the Plaintiff shall hold the investment share equivalent to KRW 350,00,000 on the basis of the net production cost under Article 2 with respect to the instant film, and shall have the right to receive the distribution of a certain amount of money in accordance with Article 9 with respect to “total profits” generated from the instant film.
The Plaintiff’s investment ratio of 350,000,000 won/70,000,000 won 50.0% of the Plaintiff’s investment ratio of 50.0% x 60.0% of the Plaintiff’s investment ratio x 30.0% of the net income generated from the instant film (iii) the Plaintiff has the following shares:
④ However, the Defendant appears to have written out the Plaintiff’s investment in the instant film amounting to KRW 350,000,000 as of June 31, 2012.
In the event that the previous amount has not been settled, the Defendant shall settle the total principal within three months from June 31, 2012 through the Defendant’s shares in the original conference of the Korea-China Joint Venture Co., Ltd. held by the Defendant.
In this case, the defendant.