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1. The defendant shall pay 400,000,000 won to the plaintiff and 15% per annum from April 26, 2017 to the day of complete payment.
Reasons
Based on the facts, the Plaintiff and the Defendant’s personal investment agreement and the Plaintiff’s payment of money were concluded on August 16, 2016 and on the 17th of the same month, respectively, and on the 22th of the same month, to invest KRW 100 million to the Defendant (hereinafter “instant investment agreement”) as follows.
The plaintiff paid each of the above money to the defendant on each day above.
Article 2 of the Private Investment Agreement (Investment Money and Dividend) The term of an agreement on investment shall be one year from the date on which a business operator receives the investment money.
A business operator shall pay to investors 1.5% per month an amount of monthly investment in dividends from investment funds.
Where a business operator deems that he/she falls under any subparagraph of Article 3 (1) through consultation with investors, he/she need not pay monthly dividends.
Upon the expiration of the investment agreement period, the business entity shall repay the investment to investors immediately after the expiration of the agreement.
However, if an investor does not request the business operator to redeem the investment in writing one month before the expiration of the period of the investment agreement, the period of the investment agreement shall be automatically extended to one year.
Article 3 [Risk of Loss of Investment Money] Where it is deemed that a business entity falls under any of the following through consultation with the business entity and investors, the business entity may not pay to investors dividends and investments due to the expiration of the contract period:
(1) Where the profitability of the business invested by a business operator is considerably low. (2) Where the business investment is likely to face a remarkable liquidity crisis of the business invested by a business operator due to dividends according to agreed upon ratio and the payment of investment funds requested to be repaid due to the expiration of the investment period: Provided, That where the prospect of the business invested by the business operator is expected, profit dividends and investment funds may be repaid according to the business judgment of the business operator, notwithstanding the circumstances referred to in
Article 4 (Termination of Contract)