His legal team said on the 28th, "Jeju's 3rd Civil District Court judges ruled that just from the data submitted by the construction company on the 4th, it was lacking to see that the money from this case was explained as a loan. There is no data to show this, so they judged that Junsu had not borrowed 5 billion KRW (approximately 4.5 million USD) from the construction company."
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The court reasoned that while a promissory note between Junsu and the construction company did exist, there was another promissory note that was signed by the construction company CEO where it read, 'I hereby sign that this promissory note is to be used as a bank or a company's accounting document, and is not the actual tender amount." Basically, saying the promissory note amount was just a placeholder. They also took into account that the money could not be deposited into the CEO's personal account because the funds were for the company. Also, the court reasoned that even though the company listed 1.8 billion KRW (approximately 1.6 million USD), there was no interest received from Junsu.
Junsu's lawyer added, "We will be taking a strong legal action for libel because they sued Junsu for fraud even though he never borrowed the 5 billion KRW. We will also be suing them for legal fraud for demanding he pay the loans. Furthermore, we will take it a step further with more legal action such as the return of unfair profits from the cost of construction that they embezzled, as well as to show that we have no further construction costs to pay."
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