A. The Plaintiffs are the contractors who newly built and sold E- Apartments within the Dong-gu Seoul Special Metropolitan City D Special Self-Governing Province (hereinafter “instant apartments”).

B. On January 12, 2008, Defendant B and the Plaintiffs entered into a sales contract with the purport that the above Defendant would purchase the instant apartment units of KRW 508,702 from the Plaintiffs by setting the sale price of KRW 694,700,00 (hereinafter “instant sales contract”), the down payment of KRW 69,470,00 in two equal installments, and the intermediate payment of KRW 416,820,00 in six equal installments, and the remainder amount of KRW 208,410,00 in six equal payments was paid at the time of occupancy.

Defendant B paid the Plaintiffs a down payment of KRW 69,470,000.

C. Meanwhile, on January 22, 2008, the Plaintiffs and the non-party F Co., Ltd., a contractor, borrowed funds necessary for moving into the instant apartment complex under the name of the prospective occupants, including Defendant B, to the prospective occupants of the instant apartment complex, and entered into an agreement on part payment loan with the Plaintiffs and F to pay for a certain amount of loan under the name of the tenant.

On August 15, 2008, the Plaintiffs and Defendant B agreed to pay the intermediate payment through a financial institution loan. On August 15, 2008, they concluded an additional agreement with the Plaintiffs on the following: (a) on the basis of the agreement to pay the interest on each of the intermediate payment loans to the Plaintiffs up to the day preceding the date of designation of occupancy; (b) redeem the interest accrued from the date of designation of occupancy; and (c

E. From February 2008 to October 2010, Defendant B received each loan from the new bank of Korea to April 2, 2008, and the five and six intermediate payments from the credit union of Korea, respectively, and paid to the Plaintiffs.

F. Meanwhile, Defendant B on April 7, 2010.