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1. The defendant's appeal is dismissed.
2. The costs of appeal shall be borne by the Defendant.
Purport of claim and appeal
1..
Reasons
1. The defendant and the plaintiff agree to receive funds necessary for the execution of the Busan Jin-gu Cdong and Seo-dong apartment from the plaintiff as follows.
Article 1 (Investment in Funds) The Plaintiff shall invest KRW 500 million to the Defendant under the terms of this Agreement.
Article 2 (Payment of Proceeds from Investment) The Defendant shall pay KRW 1 billion, which is an amount of KRW 500 million invested by the Plaintiff, within one year from the date of investment, to October 2017.
Article 3 (Creation of Collateral Security) The following shall be established as a measure to preserve claims against the investment amount:
1) The Plaintiff is responsible for withholding tax on dividend income under Article 4 (Tax and Public Charges) with a view to setting the amount of KRW 1.1 billion in holding the shares of K, L Co., Ltd. in Busan, Seo-gu, 227 square, 1.1 billion in holding the shares of K, L Co., Ltd., 227 square, 1.1 billion in holding the shares of financial institutions.
The defendant shall make every effort to reduce the plaintiff's tax.
On October 14, 2016, the Plaintiff and the Defendant drafted an investment agreement with the following content (hereinafter referred to as “instant investment agreement”) in which the Plaintiff invested KRW 500 million in the apartment construction project carried out by the Plaintiff in Busan High-gu and Seo-gu K Won (hereinafter referred to as “instant project”), but is to receive KRW 1 billion, an equal amount of KRW 1 billion after one year from the date of investment:
B. In accordance with the instant investment agreement, the Defendant: (a) on October 14, 2016, with respect to the land, F land, building, and land (Article 3(1) of the instant investment agreement) in Busan-gu, Busan-do, the maximum debt amount of KRW 1.1 billion; (b) the debtor and the J; and (c) the right to collateral with the Plaintiff as a mortgagee; and (b) on October 18, 2016, Gangnam-gu, Seoul-gu I land (Article 3(2) of the instant investment agreement) the maximum debt amount of KRW 1.1 billion; and (d) the debtor and the Defendant.