A. On February 4, 2016, the Plaintiff entered into a sales contract with Defendant B Co., Ltd. (hereinafter “Defendant Company”) under which the Plaintiff sold Pyeongtaek-si and 11 parcels to the Defendant Company, and received KRW 5.443 billion from the Defendant Company (hereinafter “the instant sales contract”). The down payment amount of KRW 200 million was paid until February 4, 2016, and the intermediate payment of KRW 1.2 billion was paid until February 23, 2016 (hereinafter “instant sales contract”). The remainder amount of KRW 4 billion was paid until February 23, 2016, and the remainder amount of KRW 4 billion was paid until March 31, 2016 (hereinafter “instant sales contract”).

B. As the Defendant Company failed to perform its obligation to pay the instant sales price, the Plaintiff and the Defendant Company confirmed that the instant sales contract was rescinded, and the Defendant Company agreed to pay to the Plaintiff penalty of KRW 500 million and delay damages for the said sales price. Defendant C signed an agreement between the Plaintiff and the Defendants on June 23, 2016 on the waiver of the real estate sales contract and the agreement on the waiver of penalty and the agreement on the penalty for delay (hereinafter “the agreement on penalty of this case”) with the purport to jointly and severally guarantee the obligation to pay the said penalty and delay damages against the Plaintiff. The main contents are as follows

On February 4, 2016, the real estate sales agreement and the indication of real estate under the contract for the waiver of real estate sales contract and the agreement for penalty: Pyeongtaek-si D and 11 square meters of land, the seller (the plaintiff) and the buyer (the defendant company) confirmed on February 4, 2016 that the real estate sales agreement was cancelled as the buyer (the defendant company)'s non-performance

In addition, the buyer (Defendant Company) immediately cancels all the establishment registration and other rights established on the above indicated real estate due to the impossibility of the performance of the above transaction agreement, and simultaneously pays to the mortgagee or the seller of the right to interest accrued until the cancellation of the registration of creation, etc.

In addition, a penalty of KRW 500 million due to the cancellation of a contract due to a cause attributable to the buyer (Defendant Company) and interest on the amount of sales from February 24, 2016 (20% per annum).