1. The defendant shall pay to the plaintiff KRW 3,060,164,383 among the costs and KRW 3,000,986,301 from December 18, 2019 to the day of full payment.

1. Facts of recognition;

A. The Plaintiff, as the parties, is a financial institution that holds loan claims against C Co., Ltd. (hereinafter “C”), and is a pledgee who has created a pledge on the Defendant’s convertible bonds issued by C to secure the above loan claims. The Defendant is a company that issued the above convertible bonds.

B. On April 4, 2018, the Defendant decided to issue the second non-guaranteed private equity convertible bonds with a total of 15 billion won through a resolution of the board of directors on April 4, 2018, and issued the said convertible bonds on May 24, 2018.

The foregoing convertible bonds added options that can claim early redemption on May 24, 2019 and every three months after the date of issuance. Of them, the deadline for the early repayment on the second early repayment date ( August 24, 2019) is “from June 25, 2019 to July 25, 2019” and the early repayment rate is “105.10%”.

C. On October 30, 2018, the Plaintiff and C concluded a contract with the Plaintiff to establish a pledge of KRW 3.9 billion with respect to the said convertible bonds (hereinafter “instant convertible bonds”) worth KRW 3.9 billion in total of face value deposited into the securities account in the name of C in order to secure the instant loan obligation (hereinafter “instant loan”). The Plaintiff and C concluded a contract with the Plaintiff to set up a pledge of KRW 3.9 billion with respect to the said convertible bonds (hereinafter “instant convertible bonds”) with the maximum debt amount of KRW 3.9 billion with respect to the amount of face value deposited into the securities account in the name of C in order to secure the instant loan obligation.

(hereinafter “instant pledge contract”). Article 2(1) of the instant pledge contract provides that “The effect of the instant pledge contract is “the rights to benefit (including the reserve accumulated after this contract) from the principal of the collateral and the interest profit accruing therefrom, the special interest, the special interest, the bounty, the dividend, the repayment and the compensation for delay, and the non-chip (chip).”

C The principal and interest of the instant convertible bonds upon the exercise of the right to claim early redemption of the instant convertible bonds are accrued.