1. Basic facts

A. On July 22, 2014, the Plaintiff entered into a contract with the Defendant on the following terms: (a) the Plaintiff contracted the Defendant for the construction of the A Saemaul Depository Center (hereinafter “the instant construction”).

(hereinafter referred to as “the instant basic contract”). Details of the construction

1. Official residence: New construction works of a community center of the A Saemaul Bank;

2. The construction place: Lering-gun C, and one parcel other than the one; and

3. Contract amount: 959,000,000 won (including value-added tax); and

4. Construction period: The rate of liquidated damages for delay from July 22, 2014 to December 25, 2014: Article 19 of the General Conditions for Contracts for Civil Construction Works 0.3% [Adjustment of the Contract Price due to Modification of Design] (1) When the contents of the design do not coincide with the state of the construction site, any uncertainty, omission or error exists in the construction site, or when the installation of additional facilities is required due to the modification of the project plan, etc., the plaintiff shall modify the design.

(2) Where there occurs an increase or decrease in the volume of construction due to the modification of a design under paragraph (1), the contract amount shall be adjusted according to the following standards, and if necessary, the construction period shall

1. The unit price for the increased or decreased construction works shall be determined through mutual consultation on the basis of the unit price indicated in the calculation sheets under Article 8;

2. The unit price for a new item not included in the calculation sheet shall be the unit price calculated at the time of design modification;

3. The rate specified in the calculation sheet shall apply to general management expenses and profits, etc. for increased or decreased construction works;

Article 27 [Compensation for Delay] (1) When the defendant fails to complete construction within the deadline for completion, he shall pay to the plaintiff the amount calculated by multiplying the contract amount by the rate of the liquidated damages in the contract (hereinafter referred to as "compensation for delay") for each number of days.

Provided, That where a completion inspection has been delayed due to a cause attributable to the plaintiff and where construction has been delayed due to any of the following causes, such inspection shall apply: