A. On November 13, 2013, the Plaintiff purchased each land listed in the separate sheet (hereinafter “instant land”) owned by the Defendant from the Defendant for KRW 400 million.

(hereinafter “instant sales contract”). B.

The Plaintiff paid a down payment of KRW 40 million to the Defendant on the date of conclusion of the instant sales contract, and the remainder was paid until December 30, 2013.

C. In concluding the instant sales contract, the Plaintiff and the Defendant entered into a special agreement with the following terms:

The current parking lot site is a contract that is subject to the change of the land category to a lot (class 2 residential area).

If the purpose of use is not changed, a contract shall be rescinded and restored to its original state without any condition.

In addition, all expenses, registration tax, legal expenses are borne by the seller.

If the land category of the instant land is not changed to a site for the remaining payment date of the instant sales contract, the Defendant paid the Plaintiff the amount of KRW 20 million as compensation for damages incurred by delay of performance, in lieu of the intermediate payment of the said sales contract, and extended the remainder payment date to June 30, 2014.

E. On April 14, 2015, the Defendant received notification from the Ulsan-gun Office to the effect that it is possible to change the use of the instant land.

[Reasons for Recognition] Uncontentious Facts, Gap evidence 1 to 3, Eul evidence 5, the purport of the whole pleadings

2. Determination

A. According to the facts of the judgment on the cause of the claim, the Defendant is obligated to implement the procedure for the registration of ownership transfer for the instant land at the same time when receiving payment from the Plaintiff for the remaining purchase price of KRW 340 million (=40 million - down payment of KRW 40 million - intermediate payment of KRW 20 million recognized as intermediate payment).

B. The Defendant asserts that the instant sales contract was rescinded by agreement around May 2, 2015.

The cancellation of agreement is the same effect as the parties did not conclude the contract already concluded.