1. The plaintiff's main claim against the defendant B shall be dismissed.

2. The plaintiff's ancillary disposition against the defendant B.

Basic Facts

On July 13, 1996, the Plaintiff of Defendant B’s claim against the Plaintiff drafted a letter of commitment to pay KRW 500 million to Defendant B within 30 days.

(2) On August 29, 1996, the Plaintiff issued and delivered to Defendant B a promissory note No. 4120 of the Nambu General Law Firm No. 4120 of the Republic of Korea (hereinafter “notarial note No. 4120 of the Republic of Korea”) with a view to securing the obligation of each of the instant notes on August 29, 1996 (hereinafter “instant notes”). The Plaintiff issued and delivered to Defendant B a copy of the Promissory Notes No. 4120 of the Southbu General Law Firm No. 1996 to recognize compulsory execution when delay the payment of the said promissory note on the same day.

On August 18, 1997, the Plaintiff’s claim D and E against Defendant C (hereinafter “Defendant C”) filed a lawsuit against Defendant C, including the refund of the purchase price, etc. (Seoul District Court’s 97Gahap12935). The Plaintiff participated as an independent party in the appellate trial [Seoul High Court’s 98Na35640, 99Na7024 (Intervention)], and filed a claim against Defendant C for 1,489,267,200 won and delay damages therefor, and the said court rendered a judgment on August 17, 199 that “Defendant C shall pay the Plaintiff KRW 1,459,267,200 and delay damages.”

Accordingly, Defendant C appealed (Supreme Court Decision 99Da53674, 99Da53681), and the Supreme Court rendered a judgment on February 5, 2002, which reversed and remanded all of the Plaintiff’s claims against Defendant C among the above appellate judgment.

On July 16, 2003, the Seoul High Court rendered a judgment that "the defendant C shall pay to the plaintiff 486,422,400 won with 5% per annum from April 26, 1995 to July 16, 2003, and 20% per annum from the next day to the day of complete payment."