A. The Defendant is the seller of “D”, which is scheduled to be constructed on the ground of “D” (hereinafter “instant building”) at the time of racing.

B. On January 16, 2017, the Plaintiff entered into a contract with the Defendant to purchase the title E (hereinafter “instant sales contract”) at KRW 212,690,000 among the instant buildings, and paid KRW 21,269,000 as the down payment on the same day.

C. The supply contract on the instant contract for the sale in lots states that “the scheduled occupancy date: (the scheduled occupancy date may be modified according to the process, and if the contract is modified, the individual notification shall be later made)”. Article 2(3) provides that the Defendant shall pay the price already paid by the Plaintiff to the Plaintiff or deduct the price for delay calculated according to the overdue interest rate for each period under Article 2(2) from the remaining price. Article 2(2) provides that the overdue interest rate shall be 9% where the overdue interest rate is less than 30 days, 11% where the overdue interest rate is less than 30 days but less than 90 days, 12% where the overdue interest rate is less than 90 days but less than 180 days, and 13% where the overdue interest rate is more than 180 days.

In addition, Article 4 (3) 1 of the above supply contract provides that if the occupancy is delayed for more than three months from the original scheduled date of occupancy due to a cause attributable to the defendant, the buyer may cancel the sale contract, and Article 5 (2) provides that the defendant shall pay 10% of the total sale price to the buyer if the contract is cancelled due to the cause of Article 4 (3).

E. On June 18, 2018, the Defendant is now entitled to start up construction work after the change of the business method and the confirmation of a financial institution for intermediate payment loan to the Plaintiff on the date of commencement of construction work after the change of the business method and the confirmation of the financial institution.

The construction period of the current project area is anticipated to take 24 months, and it is delayed from September 2018 to July 202.