A. C Co., Ltd. (hereinafter “C”) was awarded a contract with the Defendant for the construction of expanding the Defendant’s factory on the ground of Gwangju Mine-gu D (hereinafter “instant construction”). On July 10, 2015, the Plaintiff was awarded a subcontract from C for the instant construction work (hereinafter “instant civil construction work”) to the construction cost of KRW 715,00,000 (including value-added tax).

B. On June 8, 2016, C agreed with the Defendant to waive the instant construction work, and on the same day, the Plaintiff and the Defendant agreed to direct payment of the construction price as follows with respect to the instant civil construction work performed by the Plaintiff (hereinafter “instant direct payment agreement”).

Written Agreement of Non-Payment

1. Name of the construction work: Civil engineering and soil removal work among the construction work for the extension of defendant factory;

2. Contract amount: 550,000,000 won (excluding value-added tax) shall be paid to the plaintiff as the price for the construction works for the extension of a factory of the E service by the defendant of the E Service in C, but the defendant shall make a direct payment in the following manner under the condition that C waives the construction works: Provided, That if C does not submit each written waiver of the construction works to the defendant, it shall not have any effect on this written statement of payment in direct payment: The fact that there is no dispute over the payment by the bank by August 30 after resumption of the construction works, the entry in the items in subparagraphs 1, 2, and 4, and the purport of the whole pleadings:

2. According to the above facts finding as to the cause of the claim, the Defendant is obligated to pay the Plaintiff the construction cost of KRW 50,000,000 according to the instant direct payment agreement and the damages for delay.

3. Judgment on the defendant's assertion

A. According to the instant direct payment agreement, the Defendant is obligated to pay the Plaintiff the construction cost on the condition that the instant construction work is completed and the Defendant receives a loan from the bank. The instant construction work is not completed.