The defendant shall pay 300,000,000 won to the plaintiff and 12% per annum from June 29, 2019 to the day of complete payment.

1. Facts of recognition;

A. The Plaintiff, via C, delivered two copies of promissory notes in blank to the Defendant upon receipt of a request from the Defendant to lend a note available for financing PF funds in connection with the development project of the Ddong-dong Industrial Complex (hereinafter “instant development project”).

B. The Defendant supplemented each of the above two blank Promissory Notes with face value of KRW 400 million (hereinafter “instant Promissory Notes 1”) and face value of KRW 600 million (hereinafter “instant Promissory Notes 2”) as indicated in the separate sheet Nos. 1 and 2, and endorsed and delivered the instant Promissory Notes 1 and 2 to E (hereinafter “E”) for the payment of service costs.

C. After proposing the payment of the Promissory Notes Nos. 1 and 2, E filed a lawsuit against the Plaintiff and the Defendant for the payment of the Promissory Notes Nos. 1 and 2, asserting that “The Plaintiff is the issuer of the Promissory Notes Nos. 1 and 2, and the Defendant is jointly liable to pay the Promissory Notes E as the endorser of the said respective Promissory Notes.”

In the above lawsuit, “the Plaintiff shall pay KRW 300 million to E, and a decision to recommend reconciliation (hereinafter “decision to recommend reconciliation in this case”) dated January 16, 2019, stating that “the Plaintiff shall pay KRW 100 million by March 31, 2019, KRW 100 million by April 30, 2019, and KRW 100 million by May 31, 2019, respectively, was finalized.”

The Plaintiff paid to E totaling KRW 300 million on April 3, 2019 and KRW 200 million on April 26, 2019 according to the contents of the instant recommendation for reconciliation.

[Reasons for Recognition] Unsatisfy, Gap evidence 1-1 and 2-2, the purport of the whole pleadings

2. Determination as to the cause of action

A. The term “loan” refers to a bill which is received by another person for the purpose of having a third party obtain financing by means of a bill (see, e.g., Supreme Court Decision 2012Da60015, Nov. 15, 2012). The financing bill is the lender and the melter.