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1. Defendant C Co., Ltd. shall pay to the Plaintiff KRW 500,000,000 as well as its annual interest from August 31, 2013 to September 18, 2017.
Reasons
Basic Facts
Around December 3, 2012, Defendant B, who paid the Plaintiff’s investment money to Defendant B, developed a smart network phone by Defendant C Co., Ltd. (hereinafter “Defendant Co., Ltd”) to the Plaintiff. Around February 2013, Defendant B requested the Plaintiff to make an investment by offering that the Defendant Co., Ltd. (hereinafter “Defendant Co., Ltd”) would offer 8,00 shares of the Defendant Co., Ltd. and offer 8,00 shares as security.
Accordingly, around December 3, 2012, the Plaintiff paid KRW 20 million to Defendant B as investment money. On December 5, 2012, the Plaintiff transferred KRW 180 million to Defendant Company’s foreign exchange bank account.
On April 17, 2013, the Plaintiff entered into a contract with the Defendant Company to acquire 8,000 shares of the Defendant Company owned by the Defendant Company (hereinafter “instant share transfer contract”) and entered into an agreement with the Defendant Company on the matters of an additional agreement with the effect that the Plaintiff would pay twice the total investment amount of KRW 470 million to the Plaintiff if it is impossible to make a smart buphone sample development by July 30, 2013 (hereinafter “instant additional agreement”).
The details of the instant stock transfer agreement and the instant additional agreement are as follows.
Article 1 of the Stock Transfer Agreement: The purpose of this Agreement is to acquire the shares owned by A (Defendant Company) by B (Plaintiff).
Article 2:Subject Matter of this Agreement and Terms and Conditions of Share Transfer are as follows:
-Issuance Company: Defendant Company - Number of Underwritings: 800 Share Certificates (as approximately 20%) - Total Acceptance Conditions: One copy of a contract failure, two copies, and additional KRW 100 million;
Sector. -Conditional Refund: Article 3 as soon as possible on December 31, 2013: A is to provide B with total of 8,000 shares of stock in aggregate, including primary and secondary non-performances, subject to non-performance of contract.
Section 4:This Agreement is conditional contracts subject to redemption and terms are as follows:
1. A shall be subject to the redemption of the representative director’s equity interest to B;