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Exhibit 10.31
Real Estate Lease
Agreement
¨ Lease, Rent
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Regarding the real estate indicated below, the
lessor and the lessee hereby enter into a lease agreement as stated
below:
1. Description of Real
Estate
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Location
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707-24
Yoksam-dong, Kangnam-ku, Seoul and 11 Lot Hanshin Inter Valley 24 7
th Floor West Wing No. 818 and No. 819
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Lot
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Category of land type
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Plain
field
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Area
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No. 818 (5.642)
No. 819 (4.392) m 2
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Building
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Structure, Usage
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Steel frame
steel reinforced concrete structure
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Area
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No. 818 (34.34)
No. 819 (26.73) m 2
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Rented Part
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West Wing No.
818 and 819 in their entirety
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Area
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m 2
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2. Provisions of the Agreement
Article 1 (Objective) Concerning the
lease of the above mentioned real estate, the lessor and lessee
agree to pay the lease deposit and rent as follows:
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Deposit
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Exactly
twenty-eight million won (Won) 28,000,000 won
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Down Payment
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Exactly won
to be paid and received upon signing the agreement. Recipient: In
Hwa Jung
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Interim Payment
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Exactly won
to be paid on
[date].
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Balance
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Exactly
twenty-eight million won to be paid on February 16,
2009.
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Rent
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Exactly
twenty-eight million won (advance payment) ((Won) 2,800,000) to be
paid on the 16 th of each month.
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Article 2 (Agreement
Period) The lessor shall hand over the above mentioned real estate
by February 16, 2009 in a usable and profitable condition as
intended for the usage under this lease agreement. The lease
agreement period shall last until February 16, 2010 from the
date of the handover.
Article 3 (Usage Change and
Sublet, etc.) The lessee shall not renovate or alter the usage or
structure of the real estate or sublet, transfer the right of lease
or provide collateral for the real estate, or use the real estate
for any other purpose than the usage stated in this agreement
without the lessor’s consent.
Ar
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