1. The plaintiff's appeal is dismissed.

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

Purport of claim and appeal

The first instance court.

1. Basic facts

A. On September 27, 2013, H entered into a contract to purchase 100% of the Plaintiff’s issued shares from E, the representative director of the Plaintiff (formerly: D) on September 27, 2013, and agreed to assume and redeem the Defendant’s obligations against the Defendant, the second secured mortgage holder set up on nine vehicles owned by the Plaintiff.

B. On October 4, 2013, the Plaintiff and the Defendant drafted a written agreement on the termination of the collateral security.

1. The defendant and the plaintiff agree not to make all collateral mortgages established by the defendant on the vehicles belonging to the plaintiff company for KRW 14 million.4 million.

2. The Defendant shall terminate all collateral mortgages set up on October 4, 2013 on nine vehicles on the same day after checking the deposit on October 4, 2013.

50 million won is the amount repaid on behalf of H, the transferee of the Plaintiff Company, and the amount of KRW 10 million is the amount received from E, the representative director of the Plaintiff Company.

3. The Defendant may not claim any outstanding amount, excluding KRW 60,000,000,000, out of KRW 14,000,000, to the Plaintiff Company any further light, and shall pay the outstanding amount by extending it to the Defendant’s employees and employees as of October 4, 2013, separately from the officers and employees of the Plaintiff Company.

C. Accordingly, H deposited KRW 50 million in its own name in the Defendant’s bank account on October 4, 2013, and KRW 10 million in E’s name.

On October 7, 2013, at the request of the representative E of the Plaintiff and the Defendant, a notary public C’s office drafted a document stating that “the Plaintiff borrowed KRW 30 million from the Defendant on October 4, 2013, with the intention to pay the amount up to November 30, 2013, and if delay is made, 29.9% of the annual damages for delay shall be paid. If the Plaintiff fails to perform the above monetary obligation, 29.9% of the annual damages for delay shall be paid. If the Plaintiff fails to perform the said obligation, it shall be recognized that there is no objection even if it is immediately subject to compulsory execution.”

E. The defendant is based on the notarial deed of this case.