The defendant's KRW 280,000,000 and its interest to the plaintiff shall be 5% per annum from March 16, 2012 to October 3, 2015.

Basic Facts

On November 30, 2009, the Plaintiff entered into a share transfer contract with the Defendant to acquire KRW 100,000 (hereinafter “C”) shares of a stock company (hereinafter “instant shares”) in the amount of KRW 200,000,000. Around that time, the Plaintiff entered into a contract with the Defendant to cancel the said contract and restore the said amount to its original state, and to receive KRW 50,000,000 shares at the same price as the above contract terms through capital increase, etc. by January 31, 2010.

After that, C failed to raise funds of KRW 7 billion.

On December 28, 2010, the Plaintiff entered into a share transfer contract with the Defendant that transfers the shares of this case to KRW 260,000,000,000, under which the said contract takes effect only when the payment is paid in lieu of C’s bill, and the payment is paid in full due date or before the due date of the bill or its maturity.

On January 20, 2012, the Plaintiff demanded payment of a bill issued under the said share transfer agreement, but the said bill was rejected.

On March 7, 2012, the Plaintiff entered into a share transfer contract with the Defendant to transfer the instant shares to KRW 280,000,000,000, which was set on March 15, 2012.

(2) The Plaintiff acquired the shares of this case from the Defendant on November 30, 2009, and the agreement on stock transfer as of December 28, 2010 entered into thereafter became null and void because the bill or cash was not paid in time, and thus, the Defendant is liable to pay the Plaintiff the share transfer price in accordance with the share transfer agreement of this case.

Therefore, the defendant shall conclude the share transfer contract of this case with the plaintiff.