A. On May 13, 2013, A entered into a sales contract to sell each real estate listed in the separate sheet (hereinafter “instant forest”) to the Defendant for KRW 2.7 billion (hereinafter “instant sales contract”) with the Defendant, and the Defendant paid the down payment of KRW 200 million on the date of the contract.

In the instant sales contract, A and the Defendant agreed to pay A KRW 100 million within seven days after the Defendant acquired permission for mountainous district conversion and KRW 2.4 billion remaining until October 31, 2013.

B. The Defendant borrowed KRW 150 million from I to raise down down payment on the date of concluding the instant sales contract.

In addition, according to the contract of this case, A created the right to collateral security of the debtor with regard to the forest land of this case as security for the above loan money to I, as set forth in the contract of this case.

C. According to the special terms and conditions of the sales contract of this case, if the permission of the forest of this case is denied or delayed due to the reasons attributable to the defendant, the down payment that the defendant paid by the defendant will be attributed to A.

However, if civil engineering works are delayed due to natural disasters, etc., the timing for payment of the balance is adjusted by mutual agreement.

The defendant did not pay the remainder by October 31, 2013, and even if A had paid two weeks more as requested by the defendant, the defendant did not pay the remainder.

E. Accordingly, A notified the Defendant to pay the remainder by December 20, 2013, and notified the Defendant that he would be aware of the waiver of the contract if he/she did not pay the remainder by that time. As the Defendant failed to pay the remainder by that time, A notified the Defendant of the rescission of the instant contract on December 26, 2013.

F. Subsequent, A demands the Defendant to cancel the right to collateral security established on the forest of this case.