1. All appeals by the Defendants are dismissed.

2. The costs of appeal are assessed against the Defendants.

Purport of claim and appeal

1.

1. Facts of recognition;

A. On November 14, 2014, the Plaintiff entered into a contract with Defendant A Co., Ltd. (hereinafter “Defendant Company”) with which Defendant B is the representative director, under which the Defendant Company would make an investment of KRW 100 million in the “C” (hereinafter “instant investment contract”), which is developed and served in the Republic of Korea (hereinafter “instant investment contract”), and paid KRW 100 million to the Defendant Company on November 21, 2014.

B. The Defendant Company agreed to pay the Plaintiff the full amount of the Plaintiff’s investment by June 30, 2015, by settling the remainder after deducting all of the expenses from the sales revenue generated from the aforesaid smartphone game in the instant investment contract, but did not fully repay the Plaintiff’s investment by June 30, 2015.

C. On July 2, 2015, Defendant Company agreed to reimburse the Plaintiff KRW 100 million up to July 31, 2015, but to pay overdue interest calculated at the rate of 0.1% per day. At that time, Defendant B guaranteed the Defendant Company’s obligation under the above agreement.

On August 6, 2015, Defendant Company again agreed to refund KRW 100 million to the Plaintiff until August 15, 2015, and to pay the overdue interest calculated at the rate of 0.1% from August 1, 2015. At that time, Defendant B guaranteed the obligation under the above agreement.

[Ground of recognition] Facts without dispute, entry of Gap evidence 1 to 4, purport of the whole pleadings

2. Determination

A. According to the above facts of recognition as to the cause of the claim, the Defendants are jointly and severally liable to pay to the Plaintiff damages for delay calculated at the rate of 25% per annum, which the Plaintiff seeks to voluntarily reduce within the scope of the agreed interest rate from August 1, 2015.

B. The Defendants’ assertion against the Defendants are in the nature of the investment money paid by the Plaintiff, and the Plaintiff also bears investment risk, and the Defendant Company failed to obtain the business performance properly.