A. C around December 2005, borrowed money from the Defendant to purchase the Eelel located in Namwon-si D (hereinafter “the instant telecom”). On December 28, 2005, in order to secure the above borrowed money, C completed the registration of ownership transfer for the above telecom.

B. On December 27, 2005, C contracted the instant remodeling construction contract to the Plaintiff, F, and G (hereinafter “Plaintiff, etc.”) for the construction cost of KRW 550,000,000 (including value-added tax) and the instant remodeling and repair work for the construction period from December 27, 2005 to February 27, 2006 (hereinafter “instant remodeling work”). A, etc. borrowed the name of the soil construction work for a limited company (hereinafter “soil construction”).

C. After that, C renounced the purchase and renovation of the instant Moel due to financial shortage, and the Defendant succeeded to the status of the contractor of the instant remodeling contract on March 24, 2006.

Plaintiff

On April 2006, 2006, with the exception of installation works of electronic equipment, etc., construction cost of 440,000,000 (including value-added tax) and with the construction period from February 28, 2006 to April 30, 2006, the instant remodeling construction contract was amended. In preparing the contract, the name of the contractor of the instant remodeling construction contract was as it is, in preparing the contract, the name of the contractor of the instant remodeling construction contract.

(hereinafter referred to as the “instant construction contract”). E.

On June 7, 2006, the Defendant agreed to pay KRW 20,000,00 for the cost of waterproof construction for toilets with the Plaintiff, etc., and the two parties shall bear half the cost of waterproof construction for toilets. The Defendant agreed to receive KRW 20,00,000 after deducting KRW 20,000 from the cost of waterproof construction for toilets from KRW 80,000,000 for the remainder of the construction work. As the Defendant agreed to receive KRW 420,000 for the construction cost under the instant construction contract, it was issued a written settlement agreement with the Plaintiff, etc. on June 8, 2006, and received KRW 390,00,000 under the name of Saturdays Construction, and on June 9, 2006, the remainder of the settlement agreement as set forth above was 60,000.