A. The Defendant: (a) was a reconstruction improvement project association that obtained authorization on March 25, 2004 pursuant to the Act on Special Measures for the Improvement of Small and Medium Enterprises and Vitalization of Traditional Markets (before repeal by the Special Act on the Development of Traditional Markets on October 22, 2004) for the purpose of implementing reconstruction improvement projects (hereinafter “instant project”) that remove the Cheongdodam-dong 122 ground of Gangnam-gu Seoul, Gangnam-gu, and newly build a new main complex building (hereinafter “instant project”); and (b) agreed on July 23, 2010 to the Plaintiff on the construction of the instant project (hereinafter “instant contract”), as follows:

Article 4 (Method of Implementation of Projects) (1) The defendant provides the plaintiff with the land owned by the defendant and the defendant's association members, and in return, the 1, 2, and 3 commercial buildings newly constructed as a substitute (including subsidiary facilities) are supplied as substitute goods.

In such cases, the term "land to be provided to the plaintiff" refers to land in a state that does not impede the commencement of construction works of the plaintiff by securing the ownership and right to use land of the defendant (the

(2) The plaintiff shall appropriately distribute a new price paid by substitute to partners to partners according to the management and disposal plan of the partnership.

(3) The Plaintiff shall be paid KRW 3230,00,000 as sales compensation at the time of moving to the Defendant’s land and building security loan, and KRW 323,00,000 shall be secured by the means of the Defendant’s (Defendant’s members)’ land and building security loan, and the Plaintiff shall be jointly and severally guaranteed for the repayment of the sale price by the time of paying the remainder of the sale price.

Provided, That in the case of unsold housing after completion, it shall be settled as a substitute and repaid by the plaintiff.

(4) The remaining shares after deducting paragraphs (2) and (3) shall be subject to the execution of the plaintiff's liability in the manner of final shares in the plaintiff's shares.