A. On December 29, 2009, Defendant A entered into a contract with the Defendant Korea Land and Housing Corporation to purchase KRW 440,520,000 square meters of land (hereinafter “instant real estate”) with the amount of KRW 273 square meters (hereinafter “instant contract”) and paid the said amount to the Defendant Korea Land and Housing Corporation by December 31, 2012.

B. Meanwhile, Defendant A requested the Plaintiff to grant a loan to pay the price under the instant sales contract, and on October 13, 2010, prepared and delivered a letter of “where the registration of ownership transfer is completed in full with the price of the instant real estate, the establishment of the first priority collective security right shall be granted to the Plaintiff.”

After that, on December 29, 2010, Defendant A loaned KRW 452,00,000 from the Plaintiff, and entered into a contract on the creation of the right to collateral security with the Plaintiff as well as the maximum debt amount of KRW 457,600,00 with respect to the instant real estate, and the Defendant A as the Defendant (hereinafter “instant right to collateral security”).

[Reasons for Recognition] Unsatisfy, each entry in Gap evidence 1 to 5 (including branch numbers), and the purport of the whole pleadings

2. Determination

A. As to the claim against the Defendant Korea Land and Housing Corporation, the Plaintiff sought the registration of transfer of ownership in the name of the Defendant A to the Defendant Korea Land and Housing Corporation by subrogationing the Defendant A’s right to claim the registration of transfer of ownership of the instant real estate as the preserved bond. The fact that the Defendant Korea Land and Housing Corporation entered into the instant contract with the Defendant for the instant real estate and received the full payment of the purchase price under the said contract is as seen earlier. Therefore, the Defendant Korea Land and Housing Corporation is obligated to implement the registration of transfer of ownership based on the instant sales contract on December 29, 2009 with respect to the instant real estate.