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1. The Plaintiff:
A. As regards Defendant B’s KRW 694,691,069 and its KRW 99,000,000 among them, Defendant B’s Co., Ltd. shall begin on October 1, 2017.
Reasons
1. Facts of recognition;
A. The Plaintiff is a Switzerland-based Korean corporation.
B. On May 12, 2011, the Plaintiff entered into an agency contract with Defendant B Co., Ltd. (hereinafter “Defendant Company”) on the goods and parts produced and supplied by the Plaintiff, designating the Defendant Company as a sales agency.
(hereinafter “instant agency contract”). The main contents of the instant agency contract are as follows:
Article 12 (Payment of Price) The defendant company shall pay the price of goods in cash within 45 days after receipt of such price.
If the payment date of the bill exceeds 60 days from the date of receipt of the bill due to delay of payment of the bill or deposit of the bill at the designated date, the plaintiff may collect interest for 1.5% per month for the number of days exceeding 60 days.
Article 14 (Provision of Sales Guarantee Insurance) The Defendant Company shall provide the Plaintiff with a contract amount of KRW 100,000,000 to guarantee the execution of the contract, at the same time as the instant agency contract is concluded.
Article 19 (Joint Guarantee) 2) A joint and several surety shall guarantee all the obligations incurred in relation to the instant agency contract with the Defendant Company jointly and severally with the Defendant Company, and the joint and several liability shall be valid even when the contract period is automatically extended. In the event that there are the Plaintiff’s goods out of the assets of the Defendant Company at the time of termination of Article 23 (Measures for Termination) 2, the Plaintiff may take over the goods immediately in preference to other creditors against the Defendant Company, and the ownership of the goods
Article 24 (Term of Contract) The term of validity of the instant agency contract shall be one year from the date of conclusion, and one of the Plaintiff and the Defendant companies shall be extended automatically by one year, unless any objection is raised by 30 days prior to the expiration of the contract in writing.
C. When concluding the instant agency contract, the Defendant, as an internal director of the Defendant company.