1. The plaintiff's claim against the defendant (appointed party) and the appointed party are all dismissed.

2. The costs of lawsuit are assessed against the Plaintiff.

1. Basic facts

A. On December 13, 2015, the Plaintiff, who had engaged in pentry business in the Incheon Vindication State D, entered into an exchange contract with the Defendant (Appointed Party) on the following terms (hereinafter “instant exchange contract”).

Until February 29, 2016, the Plaintiff in the real estate exchange contract transfers the ownership of the real estate listed in paragraphs 1 through 5 of the attached Table 1 (hereinafter “the Plaintiff’s goods”) and the facilities and operation (including yachts and distribution) of the “Cpention” to the Defendant (Appointed Party) by February 29, 2016, and the Defendant by the same day transfers to the Plaintiff the ownership of the real estate listed in paragraphs 6 and 7 of the attached Table (the building listed in paragraph 7 at the time of the conclusion of the instant exchange contract was being newly constructed; hereinafter “the Defendant’s goods”).

When completing the registration of transfer of ownership on the Defendant’s instant goods, the Defendant (Appointed Party) should pay to the Plaintiff the exchange difference of KRW 120 million.

The plaintiff received down payment of KRW 10 million on the day of the contract, out of the exchange difference.

The Defendant (Appointed Party) shall pay the remainder of KRW 60 million on January 16, 2016, and the remainder of KRW 50 million on February 29, 2016, respectively, and the remainder shall be paid at the same time as the delivery of the above “Cpention”.

The Plaintiff succeeds to the principal amount of the collateral security obligation established in relation to the instant goods against the Defendant, and cancels the provisional registration of the collateral security trust upon receipt of the registration for transfer of ownership.

The Defendant (Appointed Party) is responsible for and reimbursed the total amount of KRW 427 million as collateral obligations against the right to collateral security established on the Plaintiff’s goods.

B. On December 13, 2015, the Plaintiff paid the down payment of KRW 12 million from the Defendant (Appointed Party) and KRW 23 million from the intermediate payment around that time, but the Plaintiff did not complete the construction of a new building listed in attached Table 7 (hereinafter “multi-household housing”) of the Defendant (Appointed Party) by February 29, 2016, which is the remainder payment date. As such, the ownership was not transferred.