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1. The defendant shall pay 1,100,000,000 won to the plaintiff and 15% per annum from March 12, 2016 to the day of full payment.
Reasons
1. Basic facts
A. On November 25, 2015, the Defendant prepared the following monetary loan agreement and the attached agreement (hereinafter referred to as the “instant agreement”) between the Plaintiff and its husband E, etc. (hereinafter referred to as the “instant agreement”) as it is necessary to obtain funds for acquiring the management right of the Co., Ltd. (hereinafter referred to as “C”), and the Defendant entered into an agreement on November 25, 2015.
Article 1 (Loan) A (referring to the Plaintiff) shall lend a sum of KRW 1,00,000 (1,000,000) to B (referring to the Defendant) and shall borrow it.
Article 2 (Repayment of Principal and Redemption Date) B shall be repaid in full by May 21, 2016, which is six months from the date of borrowing from A, and may be redeemed before maturity.
Article 3 (Interest Payment and Annexed Agreements) A and B shall separately agree on Annexed Agreements, and the Annexed Agreements shall prevail over this Agreement.
Article 4 (Provision of Security) In order to secure principal, C real shares shall be provided as security for 250,000 stocks of Co., Ltd.
In any of the following cases, the benefit of time shall be lost, and this obligation shall be paid in full without requiring the peremptory notice:
1. When he/she has transferred his/her domicile or occupation to another person without prior notice to him/her;
2. Where he has received an application for compulsory execution, preservation of claims, or auction or bankruptcy due to other debts;
3. In the event that any of the provisions of this Agreement, other than those set forth in subparagraphs above, has violated any of the provisions of this Agreement (Annexed Provisions), this Agreement shall be concluded with the aim of reaching an agreement on the details of a monetary loan agreement concluded on November 25, 2015.
2. Eul shall borrow 100 million Won (1,00,000,000) to Gap and shall promptly repay the agreed interest at Gap's request on and after December 31, 2015 including 10% of the agreed interest and principal.
3. Eul shall be financed by the Fund of KRW 1,00,000 (1,00,000) to Gap, and Eul shall be through a company controlled by Eul.