A. On April 24, 2007, the Plaintiff and the Defendant drafted an agreement with the purport that “The Plaintiff shall invest KRW 700 million in the land of Hongcheon-gun C, Hongcheon-do and 14178 square meters and D miscellaneous land (hereinafter “each land of this case”) owned by the Defendant to carry out joint projects for pension development, such as penta building and civil engineering works, and to recognize the joint ownership of the property rights and jointly distribute the profits accruing from the joint projects, excluding all kinds of taxes, taxes, pride and expenses for maintaining operation.”

B. On April 13, 2009, the Plaintiff and the Defendant drafted a written agreement stating that “The Plaintiff shall select E as a construction business operator and perform civil engineering works on each of the instant land, but not performing F and G commitments, thereby causing enormous damages to the Plaintiff. This agreement was concluded, and the method of agreement is not refunded KRW 120 million paid by the Plaintiff to the Defendant at the time of the preparation of the agreement and KRW 110 million paid to the Defendant as well as KRW 40 million paid additionally. Accordingly, the Plaintiff and the Defendant shall set up a collective security right to each of the instant land (hereinafter “instant agreement”).

C. On April 13, 2009, the Defendant prepared to the Plaintiff a letter of payment (hereinafter “instant letter of payment”) stating that “I wish to create a collateral mortgage on each land of this case by the agreement of April 13, 2009, but I promised to pay gold 10 million won (Won 60,000,000) separately if an auction is conducted and the amount of investment is not recoverable.”

On the other hand, the plaintiff set up a total of KRW 320 million on each land of this case in the name of the plaintiff, but the actual amount to be received was KRW 100 million, and auction is being conducted on each land of this case.