1. Of the judgment of the court of first instance, the part against the Defendants shall be revoked, and all the Plaintiffs’ claims corresponding to the revoked part shall be revoked.

1. Basic facts

A. Around 2006, C, the representative of the shipping competition, who enjoys a fluorous Ho, and the B (hereinafter “B”), sought a method of raising vessel purchase funds to purchase and operate a new vessel.

C around April 2006, in order to raise vessel purchase funds, C requested H to cause vessel financing by introducing F (an employee who works for the company G, and G, a corporation, an “G”), which became aware of in the course of introduction of F (hereinafter referred to as “SK securities”).

C and H concluded a time charter with a shipping company with a high credit rating, and concluded a time charter with B, thereby creating a ship financial fund that covers the hire claims and the value of the vessel of the time charter.

B. Around June 2006, the first time charter C entered into a ship sales contract with the Hanjin Shipping Co., Ltd. to purchase at USD 13,650,000, the first time charter D (B changed name after purchase; hereinafter “instant vessel”).

In addition, at that time, C agreed on the conclusion of a time charter which charters the instant vessel for two years by E and Hanjin Shipping, who is the first person in charge of Hanjin Shipping.

However, as a time charter contract with H for a two-year period of time from H, C was required to hear the words that it is difficult to attract investment, and again to increase the time charter period to E.

Accordingly, between B and Jinjin Shipping on July 4, 2006, the first two years of the instant vessel shall be the fixed charter period, but the contract may be renewed over four times in total each year thereafter, once every one year. The charterage for the first two years was concluded at 10,500 per day, and charterages at 11,000 per day when the charter period is extended due to the renewal of the contract thereafter.

hereinafter referred to as the “instant time charter” or the “first.”