2. The costs of appeal shall be borne by the Plaintiff.

The purport of the claim and appeal is the purport of the appeal.

A. The Korea Land and Housing Corporation, around 2015, conducted an open bid to sell land of 2,855 square meters located in Jung-gu Incheon Metropolitan City (hereinafter “instant land”) and selected I as a successful bidder.

B. On July 2015, the Defendant entered into an investment contract with the Plaintiff, F, G, H, and I to distribute profits by acquiring the status of purchaser of the instant land from the Plaintiff, F, H, and I (hereinafter “instant investment contract”).

C. On July 27, 2015, the Korea Land and Housing Corporation concluded a sales contract with I to sell the instant land in KRW 6,366,70,00. On the same day, the Plaintiff to the Korea Land and Housing Corporation: (a) KRW 200 million; (b) KRW 236,670,000; and (c) KRW 636,670,000, respectively, paid the down payment.

I, the defendant and the Korea Land and Housing Corporation entered into a contract on August 3, 2015 to succeed to the rights and obligations of I under the above contract.

E. On July 19, 2016, the Defendant stated the sales price of KRW 1,536,670,000, plus premium of KRW 900,000,000, plus premium of KRW 1,236,670,000, as the sales contract (sale right sales contract) between K and K, the Defendant’s fact that the actual sales price was KRW 1,536,670,00,00, in full view of each of the statements in the evidence Nos. 3 and 8, and the purport of each of the arguments is recognized.

The sales contract was concluded to transfer the status of the party to the above sales contract.

F. On July 20, 2016, the Defendant received from K the payment of the down payment of KRW 300 million, the intermediate payment of KRW 70 million on August 20, 2016, and KRW 536,670,000 from September 20, 2016, and the remainder of KRW 536,670,000 from September 20, 2016. After receiving each of the said money, the Defendant paid the Plaintiff KRW 60 million out of the down payment, KRW 160,000 out of the intermediate payment, and KRW 34,590,000 out of the remainder payment, respectively, and paid KRW 254,590,000 as investment principal and profits.

[Reasons for Recognition] Facts without dispute, Gap evidence 1 to 5, 7, and 8 (including branch numbers; hereinafter the same shall apply) and this Court.