A. On May 1, 2015, the Plaintiff entered into a sales contract with the Defendant for the sale price of KRW 595,000,000, the down payment of KRW 59,500,000, and the down payment of KRW 59,500 (hereinafter “instant sales contract”).

B. At the time of the conclusion of the instant sales contract, the Defendant: (a) paid only KRW 1,00,000 out of KRW 59,50,000 to the Plaintiff on the date of conclusion of the contract; and (b) paid the remaining down payment to the Plaintiff on May 15, 2015; (c) where the Defendant did not pay the remainder of the down payment within one month, the Plaintiff may immediately rescind the sales contract without a separate peremptory notice; and (d) in this case, the Defendant written a written installment payment of the down payment to the effect that the Defendant agreed to compensate for the total sum of the down payment, 10% of the down payment, and the Plaintiff issued to the Plaintiff a written promise to pay the down payment for the remainder of KRW 58,500,00 to the Defendant on behalf of the Defendant.

C. On May 4, 2015 and May 7, 2015, the Defendant sent letters to the Plaintiff’s employee to the effect that the contract will be cancelled, and as of May 13, 2015, the Plaintiff was unable to pay a penalty, and as of May 13, 2015, the Plaintiff issued a certificate of intent to cancel the instant sales contract and demanding the refund of the down payment already paid, and that the Plaintiff reached the Plaintiff around that time.

On June 17, 2015, the Plaintiff sent to the Defendant a certificate of content that the unpaid down payment should be paid within 14 days, which reaches the Defendant on June 18, 2015.

Nevertheless, the Defendant sent a certificate of content to the effect that the instant sales contract will be cancelled on July 9, 2015, as the Defendant did not perform its obligation to pay the remainder of the down payment, which reaches the Defendant on July 10, 2015.