1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1..

1. Determination as to the cause of claim

A. The facts of recognition 1) The Defendant’s electronic bill, the face value of which is KRW 10,00,000,000 on October 31, 2017; maturity of which is February 10, 2018; and the electronic bill (bill No. D; hereinafter “instant bill”) in the Department of Business Affairs of the Payment Bank C Bank.

(2) The Plaintiff presented the payment of the Promissory Notes to the Plaintiff within the period of presentment for payment of the Promissory Notes. However, on February 12, 2018, the payment of the Promissory Notes was refused on the ground that the Promissory Notes was defaulted.

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1 and 2, the purport of the whole pleadings

B. According to the above facts of recognition, the Defendant, the issuer of the Promissory Notes, is obligated to pay to the Plaintiff, the holder of the Promissory Notes, the amount of KRW 10,000,000 and the amount calculated by the rate of 15% per annum under the Act on Special Cases Concerning the Promotion, etc. of Legal Proceedings from April 7, 2018 to the date of full payment, following the delivery of the copy of the Promissory Notes, sought by the Plaintiff.

2. The defendant's assertion is that since the bill of this case was issued to secure the payment of the goods arising from the transaction of goods with the plaintiff, there is an implied special agreement or commercial practice with the purport that the plaintiff will not pay the bill of this case in the event of defect in the goods supplied by him or any reason such as return of goods. The plaintiff acquired the bill of this case with the knowledge of such special agreement, and the defect in the goods supplied by the plaintiff actually occurred. The plaintiff's claim cannot be complied with.

The defendant's above assertion is without merit, since there is no evidence to acknowledge that defects have occurred in the goods supplied by the plaintiff as alleged by the defendant.

3. In conclusion, the plaintiff's claim of this case is justified, and the judgment of the court of first instance is just in conclusion, and the defendant's appeal is without merit.