1. Basic facts

A. On June 10, 2013, the Plaintiff entered into a construction contract with the Defendant with the content that the Plaintiff would enter into a contract with the Defendant for the construction of a factory site for Gwangju City B (hereinafter “instant construction”) with respect to the construction cost of KRW 473 million (including value-added tax) and the construction period from June 10, 2013 to August 15, 2013 (hereinafter “instant contract”). On the same day, the Plaintiff received KRW 43 million as the down payment from the Defendant.

B. After the Plaintiff and the Defendant changed the construction period from June 10, 2013 to October 15, 2013, the Plaintiff and the Defendant agreed to apply retroactively compensation for delay under the instant contract if the changed construction period is not completed. The Plaintiff was paid 85,90,000 won as the first progress payment from the Defendant on September 16, 2013.

C. On October 14, 2013, the Plaintiff and the Defendant changed the construction period from June 10, 2013 to December 31, 2013, and agreed to apply retroactively the penalty for delay under the instant contract if the construction work within the changed construction period is not completed. On December 13, 2013, the Plaintiff changed the construction amount from 473 million won (including value-added tax) to 443 million won (including value-added tax) (hereinafter “the third change agreement”), and the Plaintiff received KRW 100 million from the Defendant as the second progress payment on January 29, 2014.

Since then, on April 3, 2014, the Plaintiff and the Defendant re-amended the construction period from June 10, 2013 to April 30, 2014 (including value-added tax); and the Plaintiff received payment of KRW 50 million as the third progress payment from the Defendant on April 16, 2014.

E. On April 30, 2014, the Plaintiff completed all of the instant construction works and paid the Defendant the unpaid construction cost and additional construction cost.