1) On June 22, 2017, C prepared a letter of understanding between the Defendant and the Defendant on June 22, 2017, under the name of G, F and branch employees of E Co., Ltd., a stock company that it operated, following consultation on the acquisition of a racing D urban development project promoted by the Defendant (hereinafter “instant urban development project”).

C on the same day, remitted 300,000,000 won of the commitment under each letter of understanding to the Defendant’s bank account from its own bank account on the same day.

Article 1(Purpose) of this Arrangement is to enter into this Arrangement (MU) with the intention of the Defendant to take over the urban development project of this case promoted by G and F, and to check the specific contents and all necessary matters, and to enter into this Arrangement (MU) with no error.

Article 2 (Terms and Conditions of Contracts)

(a) Terms and conditions of a contract: Transfer of all the shares of a corporation and all the business rights; 2. The amount of the water supply price: 30,000,000,000 won (hereinafter omitted) in the amount received by the Defendant under Article 3 (Implementation) of the contract deposit received by G and F; 300,000,000 won in the amount of the contract deposit received by G and F; and 300,000 won in the event that it becomes impracticable to take over the project as a result of the due diligence conducted by G and F, the Defendant shall repay to G and F

G and F shall offer as security the land allotted by the authorities in recompense for development outlay amounting to 150% of KRW 300,000,000 in order to ensure this, and promptly redeem the agreed amount of KRW 300,000,000,000 to the Defendant.

2) After inspecting documents related to the instant urban development project, C requested the Defendant to return KRW 300,000,000,000 as agreed upon by notifying the Defendant of the waiver of the acquisition of the instant urban development project on August 2017.

3) On August 3, 2017, H, the representative director of the Defendant, confirms that “I will refund 300,000,000 won to F by August 31, 2017,” each of the above Understanding.

“Preparation of a letter of confirmation,” and this year;

9. 8.C issued, October 8, 2017, a promissory note, the face value of which is KRW 330,000,000, and which was payable, to C.

4) The Defendant on January 2017.