1. The Defendant shall pay to the Plaintiff KRW 163,161,83 and KRW 5% per annum from October 11, 2012 to September 24, 2013, and complete payment from the next day.

1. Facts of recognition;

A. On July 26, 2007, the Plaintiff engaged in the development and utilization of groundwater under the trade name of “C” entered into a hot spring development project agreement with D with the Defendant on the construction of hot spring in Yangsan City E forest (hereinafter “instant construction”). At that time, the Plaintiff was paid KRW 20,000,000 as the down payment from the Defendant.

The term of the contract for construction: The amount of the contract for construction from August 1, 2007 to September 30, 2007: 40,000,000 won: The intermediate payment of KRW 20,000: 20,000: 20 to 30 days after the commencement of excavation of KRW 50,000: the time when the acquisition test is installed after the completion of excavation of KRW 30,000: The remainder of KRW 100,000: the remainder of KRW 200,000,000 which is agreed upon by the plaintiff and the defendant as security within 60 days after the examination of transfer of KRW 20,00.

1. The Defendant is responsible for and supplies necessary oil at the construction site;

(C) deducts any balance from the construction cost when making any balance payment.

3. The Defendant bears the support of cream equipment necessary for the rearrangement of the construction site, and the Plaintiff completes the work with the support of ready-mixeds, packages, and ro-exers.

4. The plaintiff shall be responsible for and treated as a water pumping test, installation of a mother, and a hot spring hole inspection.

7. The temperature quantity, etc. of a hot spring hole shall be confirmed by the plaintiff and the defendant and shall terminate excavation works if it is recognized as successful in inspection standards.

8. If a hot spring hole is not successful, the defendant is unable to claim the plaintiff to return the subsidized construction cost, and the plaintiff cannot claim the construction cost additionally subsidized to the defendant.

12. The temperature and quantity of the hot spring hole shall be based on the time of passing an inspection and shall correspond to the hot spring method;

13. The hot spring hole is owned by the Plaintiff until the completion of the payment of the construction cost (including the balance) and the Defendant shall not use it at will without the consent of the Plaintiff.

14. Permission for all civil petitions and excavation sites arising at the construction site, problems of government offices due to forest felling trees, etc. shall be liable and resolved by the defendant.

B. D The instant construction works are as follows.