1. The Defendant shall pay to the Plaintiff KRW 115,982,90 and the interest rate of KRW 12% per annum from December 30, 2019 to the date of full payment.

1. Basic facts

A. On June 25, 2019, the Plaintiff entered into a supply contract with C Co., Ltd. (hereinafter “principal contractor”) to supply home appliances equivalent to KRW 189,981,00 (including value added tax) to Kimpo-si D (hereinafter “instant supply contract”). At the time of the said contract, the Defendant jointly and severally guaranteed the principal contractor’s obligation to pay the price.

B. On September 30, 2019, the Defendant prepared the following notes to the Plaintiff (hereinafter “each of the instant notes”). In relation to the construction of the instant officetels in force, the Defendant entered into a contract for construction works between the Defendant and the principal contractor, and among them, the principal contractor entered into a contract for construction works between the Defendant and the principal contractor on June 189, 25, 2019, with the Plaintiff’s household unit supply (including VAT) and the joint and several sureties.

However, as a result of the defendant's confirmation that the contract of the principal contractor is not executed, I see that the principal contractor and the plaintiff have submitted a letter of direct payment of the subcontract consideration as it is deemed that the continuous progress of the construction would be impossible because the trust between the principal contractor and the plaintiff is seriously damaged.

The defendant agrees to pay the construction price directly to the plaintiff, who is the subcontractor of the principal contractor, on the condition that the following are fulfilled:

1. The purpose of this Section is to enable the defendant to pay the subcontract price to the plaintiff smoothly by receiving any balance remaining after the prompt completion of the project.

2. The amount of a direct payment for the subcontract shall, in principle, be based on a direct payment agreement and a subcontract agreement entered into between the plaintiff and the principal contractor, and each such agreement shall be void if the subcontract agreement and the direct payment agreement are forged or altered.

3. The contract for construction works concluded by the plaintiff and the principal contractor shall be terminated in full;

4. Estimated books and works executed by your company, provided by the principal contractor; and