A. On June 7, 2009, the Plaintiff entered into an investment agreement with Defendant B to sell the said land and pay KRW 150 million to the Plaintiff KRW 10,000,000 per square meter per square meter per square meter per square meter (hereinafter “instant agreement”) with respect to KRW 14,726 square meter per square meter per square meter in Jeju-si, and KRW 11,226 square meter per square meter in total (hereinafter “Hri land”), with respect to KRW 1,50,000 per square meter in total (hereinafter “instant agreement”).

The main contents of the instant agreement are as follows.

1. An investor shall make a registration of establishment of a cost of KRW 150 million on three parcels which are not the registration of ownership transfer;

2. The time of sale shall be within three years after two years and shall be actively cooperation in trading;

3. The range of the following profits shall be 100,000 won per square meter within two years and three years.

4. The portion of capital gains tax shall be sold in the amount of KRW 250,000 per square year within three years after two years, the investor shall bear the capital gains tax according to the tax rate as at the time of sale, and the capital gains tax shall be reduced when selling at least 250,000 won.

5. When sale is not made within three years after two years have elapsed, the current landowner shall purchase the land on the condition above and shall cancel the registration of creation of a neighboring mortgage.

B. In accordance with the instant agreement, the Plaintiff paid to Defendant B KRW 20 million on the same day, and KRW 90 million on June 22, 2009, respectively, and the remainder KRW 40 million on the debt of Defendant D to pay the said amount.

Defendant C and D have jointly and severally guaranteed the obligations under the instant agreement by Defendant B around that time.

C. Meanwhile, Defendant B purchased Hri land around 2006, but did not complete the registration of ownership transfer at the time of the instant agreement, which was later held until December 10, 2012.

【Ground for recognition” has no dispute, Gap Nos. 1, 2, and Eul No. 2.