1. The Defendants are jointly and severally liable to the Plaintiff for KRW 1,179,113,443 and KRW 1,014,954,850 among them.

Basic Facts

On September 14, 2015, the Plaintiff concluded a contract with Defendant A Co., Ltd. (hereinafter “Defendant A”) to acquire non-guaranteed private equity convertible bonds (hereinafter “instant convertible bonds”) for KRW 3 billion (hereinafter “instant underwriting contract”) with a specialized credit financial business company engaged in facility leasing business, installment financing business, deferred payment sales business, etc.

Article 3 (8) of the Agreement on Subscription of this case provides that the interest rate of the bonds shall be 2.0% per annum on the total face value of each bond from the following day of the issuance of this bonds to the redemption day, and 5.0% per annum on the rate of maturity guarantee interest." Under Article 3 (1) 12 of the Agreement on Subscription of this case, the overdue interest shall be paid to the principal and interest when the issuing company fails to pay the principal or interest on each date under paragraphs (9), (10) and (11). In this case, the overdue interest shall be 25% per annum. In this case, the overdue interest shall be 25% per annum. The purpose of financing is stated as “the purpose of financing” under Article 3 (20) of the Agreement on Subscription of this case.

In addition, Article 21 provides that "where the benefit of time is lost, the defendant A shall immediately pay the total amount of the principal and the interest calculated at an annual interest rate of 5.0% from the date of issuance to the date of loss of the benefit of time," and that "where the defendant A fails to pay the principal and interest to be paid by losing the benefit of time for the bond under this subparagraph (1) through (19) within the prescribed period, the overdue interest calculated at the interest rate of 5.0% from the date following the relevant payment date to the date of actual payment shall be paid."

Defendant B, Defendant C Co., Ltd (former trade name: D Co., Ltd.; hereinafter “Defendant C”) and its representative director, including both before and after the change at the time of the Defendants’ letter of undertaking.