1. Revocation of a judgment of the first instance;

2. The plaintiff's claim is dismissed.

3. All costs of the lawsuit shall be borne by the Plaintiff.

1. Basic facts

A. On September 17, 2012, the Plaintiff purchased from the Defendant the amount of KRW 210,000,000,000 from the Defendant, the amount of KRW 995 square meters, and KRW 572,00,000,000,000,000 for each of the instant real estate. The Plaintiff concluded a sales contract with the Defendant on November 17, 2012, stating that the amount of KRW 50,000,000,000 on the date of the contract and the remainder of KRW 160,000,000,000,000 shall be paid each of the instant real estate, and the Plaintiff concluded a sales contract with the National Agricultural Cooperative Federation of Korea, the maximum debt amount of KRW 90,00,00,00,00

According to the instant sales contract, before the Plaintiff pays the intermediate payment (if there is no intermediate payment) to the Defendant, the Defendant shall reimburse the down payment, and the Plaintiff may waive the down payment and rescind the instant sales contract.

B. The Plaintiff paid the Defendant the down payment of KRW 50 million on the day of the instant sales contract, but failed to pay the remainder by November 17, 2012 thereafter.

C. On November 22, 2012, the Plaintiff and the Defendant drafted a letter of undertaking with the following content (hereinafter “instant letter of undertaking”).

As the Plaintiff entered into the instant sales contract for each of the instant real estate owned by the Defendant, and the Plaintiff is obliged to pay the purchase and sale price to the Defendant by November 17, 2012, and the Plaintiff breached the sales contract by failing to pay the price on the said date, and thus, the Plaintiff is promised to pay the price to the Defendant by December 20, 2012. If the Plaintiff fails to pay the price, then I promised to waive the down payment of KRW 50 million and not raise an objection to the Defendant, etc.

The Plaintiff did not pay the remainder to the Defendant until December 20, 2012. On December 27, 2012, the Defendant did not pay the remainder to the Plaintiff by the remaining payment date stipulated in the instant sales contract, and the instant promise is deemed to be the instant promise.