1. Defendant B and limited liability companies C jointly and severally with the Plaintiff KRW 450 million and Defendant B with respect thereto on August 28, 2015.

Basic Facts

On October 12, 2008, the Plaintiff leased KRW 3.5 billion to Defendant B and Limited Company C (hereinafter “C”) as interest rate of 1.825% on December 12, 2008, and drafted a notarial deed of money consumption loan agreement with Defendant B and C (hereinafter “instant lending agreement”) as the amount of KRW 500 million up to December 31, 2009, up to December 31, 201, up to December 31, 2010, up to KRW 1.5 billion up to December 31, 201, up to December 31, 201, and up to KRW 1.5 billion up with Defendant B and C (hereinafter “instant lending agreement”). As to the instant lending agreement as the amount of installments payment by December 31, 2012.

As Defendant B and C failed to pay KRW 500 million to the Plaintiff by December 31, 2009, the first payment date of the instant loan agreement, Defendant B and C, the Plaintiff drafted the agreement on the instant loan agreement with Defendant B and C (hereinafter “instant first agreement”) on December 3, 2010, and the F Co., Ltd. jointly and severally guaranteed the Defendant B and C’s obligations under the said agreement. The main contents of the instant first agreement are as follows.

As Defendant C and B delayed the payment of the borrowed amount of KRW 500 million on December 31, 2009 based on the above notarial deed, it is confirmed that the interest under Article 6(3) of the above notarial deed was lost, and there was an obligation to pay all the principal amount of KRW 3.5 billion and damages for delay at the rate of 30% per annum from that day.

2. In lieu of the payment obligation under paragraph (1) above, Defendant C, B, and F shall ensure that the ownership of an amount equivalent to the amount of debt may be transferred to the Plaintiff at the general sale price after the sale of an officetel scheduled to be newly built on the ground of the Songpa-gu Seoul Metropolitan Government G zone.

Provided, That if the sale exceeds 60% at the time of sale, the amount of debt shall be repaid in cash at the time of the request of the plaintiff.

3. If the defendant C, B, and F violated the obligations of paragraph 2 above, the penalty shall be imposed.