1. The Defendant: (a) on August 25, 2010, filed with the Plaintiff the Cheongju District Court with respect to C forest land No. 44,813 square meters in Chungcheongnam-do, Chungcheongbuk-do.

1. Facts of recognition;

A. On August 23, 2010, the Plaintiff loaned KRW 150,000,000 to the Defendant at interest rate of 12% per annum and on March 31, 2011.

B. On August 23, 2010, the Plaintiff and the Defendant entered into a promise to return substitute land (hereinafter “instant real estate”) with the content that the Defendant would transfer the ownership of C, 44,813 square meters of forest land (hereinafter “instant real estate”) in Chungcheongnam-do, Chungcheongnam-do, the Defendant owned, if the Defendant did not repay the said loan debt.

C. On August 31, 2010, the Plaintiff completed the registration of the right to claim ownership transfer on August 25, 2010, receipt No. 38372, Cheongju District Court Cheongju District Court (Cheongju District Court) on the ground of the promise to return substitutes for the instant real estate.

The defendant does not pay the principal and interest of the loan.

E. On November 29, 2019, the Plaintiff notified the Defendant that there is no settlement money to be paid, since the assessed value of the instant real estate was KRW 215,102,400, and the total sum of the principal and interest in unpaid reimbursement was KRW 282,150,000, and the Plaintiff was served on the Defendant on December 13, 2019.

[Grounds for recognition] The fact that there is no dispute, Gap 1-6, the result of the market price appraisal commission, the purport of the entire pleadings.

2. Inasmuch as the Plaintiff received both liquidation procedures prescribed by the Provisional Registration Security Act and notice of evaluation of liquidation amount prescribed in Article 3 of the reservation for return of substitutes, etc., the Plaintiff is obligated to implement the principal registration procedure on February 14, 2020, when the period of liquidation between December 13, 2019 and December 14, 2020 when the notice of liquidation reached the Defendant.

3. As to the remaining claims for loans, the Plaintiff asserts that since the assessed real estate amounting to KRW 215,202,400 falls short of KRW 282,150,000 as of November 15, 2019, the Defendant is obligated to pay the principal and interest remaining after appropriating the principal and interest, and that the Defendant is obligated to pay the remainder of KRW 67,047,60 and delay damages.

However, Article 2 of "The provisional registration procedure for real estate shall be implemented in order to secure the obligation" and Article 4 of "The provisional registration procedure for real estate shall be implemented."