1. The judgment of the first instance, including each claim of the Plaintiff’s Intervenor who participated in this court, is as follows.

1. Basic facts

A. The Plaintiff is a company established on July 18, 2006 and engaged in construction business and civil engineering business. The Defendant is a company established on May 11, 2016 and engaged in real estate lease business, real estate sale business, etc.

B. On September 28, 2016, the Plaintiff and the Defendant entered into a contract with C (hereinafter “C”) on September 28, 2016, and the Defendant entered into a contract with the head of Ulsan-gu, Ulsan-gu, Seoul-gu, under which one unit of multi-family housing (hereinafter “instant building”) with the size of 12 stories above ground and 12 stories above ground was newly constructed (hereinafter “instant construction”) on the construction period (hereinafter “instant construction”) to set the construction period from September 28, 2016 to August 31, 2017, and the construction cost of 2.7 billion won (a separate value-added tax).

C suspended construction work on October 2016 while only the removal work of the existing building on the instant construction site was underway.

2) On October 20, 2016, the Defendant entered into a contract with the Plaintiff and the instant construction during the construction period from October 26, 2016 to October 25, 2017, setting the construction cost as KRW 2.7 billion ( separate value-added tax). On December 29, 2016, the Defendant changed the method of construction of civil engineering works into CIP and entered into a contract to increase the contract amount to KRW 2.765 billion (including value-added separate and value-added tax, KRW 2,814,493,50 if the said contract includes value-added tax), and the Plaintiff performed the instant construction work in accordance with the instant contract (hereinafter collectively referred to as the “instant contract”).

3) After December 5, 2016 to November 1, 2017, the Defendant paid the Plaintiff KRW 2,654,95,150 in total as the construction cost under the instant contract. On August 25, 2017, the Defendant made a written confirmation of payment for the construction cost that “The Plaintiff promises to pay the unpaid construction cost under the instant contract to the Plaintiff immediately after receiving the loan for completion of the construction work (within 20 days after completion of the construction work).”

(c)

Approval of the use of the instant building.