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1. All of the plaintiffs' claims are dismissed.
2. The costs of lawsuit are assessed against the plaintiffs.
Reasons
1. Basic facts
A. The parties concerned are the project implementer that constructs a complex building in both weeks E and F with the trade name of “D”, and the Plaintiff is the contractor that received a contract from the Defendant for the said complex building construction project.
Plaintiff
B is a company operated by G as a representative director together with the Plaintiff A.
B. On June 4, 2012, the Defendant awarded a contract for construction works between the Plaintiff A and the Defendant to the Plaintiff for construction works of composite buildings in two weeks as follows:
(hereinafter “the instant construction contract”). 1. The name of the construction project: the construction project of the complex building in both weeks.
2. Construction site: Gyeonggi-do E, and F;
3. Date of commencement: June 11, 2012.
4. Date scheduled for completion: June 10, 2013.
5. The contract amount of one hundred million won (including n.e., n., n. 9,900,000) (including additional taxes).
8. End amount: Two months after the commencement of the construction works: At the intervals of once a month and at the intervals of two months thereafter; 11. The rate of liquidated damages: 0.01%; 0.01%; 0.01%
C. The Plaintiff A and the Defendant did not comply with the deadline for the completion of the instant construction contract. As the Defendant paid the Plaintiff to the subcontractor, the subcontractor did not pay the construction cost, and the subcontractor did not directly claim construction cost to the Defendant. As such, the Defendant demanded its resolution on April 17, 2014. (2) On April 21, 2014, the Plaintiff and the Defendant guaranteed the Defendant’s payment of the construction cost to be paid to the subcontractor A with the following content, and the Plaintiff A concluded an agreement with the Defendant to provide the Defendant with real estate owned by the Plaintiff as security.
The contents of the agreement: The contractor shall pay for the completed portion paid by the contractor in the course of performing the work, which is set at KRW 500,000,000 for the total amount of the security of the contractor (Plaintiff A): Provided, That the contractor shall pay for the completed portion of the D multi-building of the contractor (Defendant).