1. The Defendant’s KRW 470,000,000 as well as 5% per annum from August 19, 2016 to September 23, 2016 to the Plaintiff.

Facts of recognition

The Plaintiff is a director and a substantive operator of C Co., Ltd. (hereinafter referred to as “C”).

C was a juristic person established for the purpose of civil engineering and construction work, and from 1999, it owned the land D, E, and F (including the land before and after the annexation and the land before and after the annexation, I, J, K, L, M, N, P, P, Q, R, and S (hereinafter “instant land”).

C had been constructing a building on the ground of the instant land, but the said building was suspended due to the enforcement of the right to collateral security by the Geumsan Credit Cooperatives, and the auction procedure for the said land was conducted.

① During the instant construction, C shall not interfere with the construction of a building on the instant land in the future by transferring the right to the building to the Defendant and resolving the lien related thereto.

② The Defendant shall provide the Plaintiff with the economic benefits equivalent to KRW 80 million in return for the above paragraph (1).

Of KRW 80,000, 140,000 shall be paid in cash, and KRW 2.60,000 shall be liable for loans to the national bank of the C Stock Company, and KRW 400,000 shall be the sale of the corresponding amount among the buildings newly built by the Defendant in the future.

Provided, That if the auction price paid by the defendant exceeds 730 million won, such excess amount shall be borne by the plaintiff within the limit of 50 million won.

On August 5, 2014, the Defendant, prior to participating in the auction procedure for the instant land, agreed with the Plaintiff who represented C as follows.

On September 25, 2014, the Defendant purchased the instant land in KRW 782,190,000 through an auction procedure, and paid the Plaintiff a sum of KRW 70,000 (including the amount in excess of the auction price) according to the agreement stated in the said sub-paragraph.

On the other hand, the Plaintiff removed the building that was being newly constructed on the ground of the instant land.

The draft agreement of this case

1. Filing a lawsuit for cancellation of the ground for the right to collateral security in KRW 400,000;

2. Preparation of a contract for sale in lots at 470,000,000 won; and

3. The amount of 190,000,000 won shall be paid to C in full by the National Bank Fund.