1.The judgment of the first instance shall be modified as follows:

The defendant shall pay to the plaintiff KRW 230,000,000 as well as to the plaintiff on May 9, 2014.

1. Basic facts

A. The Plaintiff completed the “NPL program” operated by the Defendant, and joined the “F” organized by the Defendant for the students who completed the aforesaid program.

On the other hand, the “F” has a provision for the return of principal when withdrawing from its operating rules.

B. The Plaintiff deposited a total of KRW 230 million in five times from January 25, 2013 to August 28, 2013 pursuant to the above operational rules.

C. As of January 28, 2013, May 2, 2013, and August 28, 2013, the Defendant: (a) transferred part of the claims that the Defendant acquired from a financial institution to the Plaintiff as of August 28, 2013; (b) the Defendant transferred to the Plaintiff the Plaintiff a total of KRW 230 million (the contract becomes effective when the Plaintiff pays the transfer price to the Defendant); (c) the Defendant, while proceeding to recover the said claims, shall terminate the auction procedure as soon as possible; (d) the Plaintiff shall pay the Plaintiff the amount equivalent to the transfer price and the dividend amount that the Plaintiff received from the Plaintiff after the distribution; and (e) the Defendant prepared a written contract for partial acceptance of claims with the content

Similar to the Plaintiff, some of the investors who completed the above Educational Institute and joined the investment club organized by the Defendant and invested in non-performing loans are keeping an investment agreement issued by the Defendant. The said investment agreement states that the investment money is “loan”, and the said investors state that the said investors are “loan”, and the Defendant states that the investment money is “loan”, and that the lending period and interest rate are specified.

E. On September 26, 2013, the Defendant and the Mamod Co., Ltd. (hereinafter “Defendant, etc.”) drafted and sent to creditors, including the Plaintiff, a letter of payment for the following (hereinafter “instant letter of payment”).

1. The obligees, including the Plaintiff, lend total of KRW 1,225,60,000 (the Plaintiff’s part is as indicated below) to the Defendant, etc. on September 26, 2013, and the Defendant.