1. The Defendants are jointly and severally liable to the Plaintiff for 230,000,000 won and each year from February 1, 2011 to April 17, 2016.

1. Basic facts

A. On July 3, 2007, the Plaintiff and the Defendants engaged in real estate investment business concluded an investment agreement with the effect that “The Defendant received KRW 230 million from the Plaintiff and purchased real estate at cost according to D development plan, the Defendants guaranteed liability and principal for the purchase of the said real estate, and the period of investment shall not exceed two years, and the amount calculated by subtracting necessary expenses from the profit shall be paid to the Plaintiff.” (hereinafter “instant investment agreement”).

B. The Plaintiff paid the Defendants KRW 230 million according to the instant investment agreement.

C. The Plaintiff failed to recover the principal after the lapse of the instant investment agreement, and on December 8, 2010, issued to the Defendants a certificate of the content that “The Defendants did not pay the principal of the investment to the Plaintiff, even though the period of investment under the instant investment agreement has elapsed since the Defendants paid the principal of the investment.” As such, by the end of January 201, the Plaintiff sent to the Defendants a certificate of the content that “The Defendants paid the entire

[Ground for recognition] As to Defendant B: Confession (the main text of Article 150(3) and (1) of the Civil Procedure Act)

2. According to the above facts of determination as to the cause of the claim, the Defendants are jointly and severally liable to pay to the Plaintiff the amount of KRW 230 million of the investment principal under the instant investment agreement and the damages for delay calculated at the rate of 5% per annum as prescribed by the Civil Act from February 1, 2011 to April 17, 2016, which is the date of the final service of the original copy of the instant payment order, and the date of full payment, from the next day to the date of full payment, to the date of full payment.

3. Determination as to Defendant C’s assertion

A. Defendant C’s assertion of Defendant C was organized around September 2009 by organizing the real estate investment business with Defendant B, and the instant case against Defendant B.