1. The Defendant’s KRW 50,000,000 and the Plaintiff’s annual interest thereon from May 3, 2013 to June 12, 2014.

1. Basic facts

A. On December 22, 2011, the Plaintiff was awarded a contract with the Defendant for the FRP termination and design improvement work (hereinafter “instant construction work”) at the rate of 0.1% from December 26, 201 to November 19, 201, the construction cost of the instant construction work from December 26, 2011 to November 19, 2012, and the penalty for delay at the rate of 0.1%.

B. However, the completion of the instant construction was completed on December 28, 2012, later than 39 days after the scheduled construction period.

C. The Defendant intended to pay the Plaintiff the construction cost after deducting the damages for delay calculated on the basis of the total construction cost from KRW 81,705,000 (=2,095,000,000 x 1/1,000 x 39 days) that the Plaintiff had completed the construction work at least 39 days later than the agreed-term period, and deposited the remainder after deducting the said damages for delay.

The general conditions of the defendant construction contract related to liquidated damages for delay (hereinafter referred to as the "general conditions of this case") shall be as follows:

SECTION 8: Delay in performing the contract and rescission and termination of the contract

1. Damages for delay;

(a) If the contractor fails to complete the construction by the deadline for the completion of construction (referring to the deadline for submitting a report on completion of construction under the contract; hereinafter the same shall apply) specified in the contract, he/she shall pay in cash the amount calculated by multiplying the damages for delay for each number of days by the contract price (hereinafter referred to as "damage for delay") specified in the contract for

(b)In the case of “A”, when a contracting officer accepts a completed portion pursuant to Section 9(3) after inspection (including cases where the completed portion is not accepted but is managed and used; hereafter the same shall apply in this Article), the amount equivalent to that portion shall be deducted from the contract amount;

In such cases, the acceptance of a completed portion shall be limited to the acceptance of a completed portion of a construction work that may be divided in its nature.

(c) When a contracting officer deems that construction has been delayed because it falls under any of the following, he/she shall have the relevant number of days in delay as "A":