1. Defendant B Development Cooperatives: (a) KRW 1,426,857,766 for the Plaintiff and 5% per annum from March 31, 2017 to June 1, 2018.

Basic Facts

The defendant's association is a non-corporate group established by the Seoul Housing and Urban Corporation (the name of the Seoul Housing and Urban Corporation was changed from September 1, 2016 to the Seoul Housing and Urban Corporation) as part of 393 members designated as those eligible for livelihood countermeasures while providing public services to the Gangnam-gu Seoul Metropolitan Government E-dong.

On December 22, 2015, the Plaintiff acquired all rights from the Defendant Cooperative as to the F Living Countermeasures Site (hereinafter “instant land”) and paid the land price to the Seoul Housing Corporation on behalf of the Defendant Cooperative, and entered into an agreement on acquisition of business rights (hereinafter “instant acquisition agreement”) with the content that the Plaintiff would sell part of the said land to its members after implementing the construction of commercial buildings and officetels on the said land. On behalf of the Defendant Cooperative, the Plaintiff agreed to implement the instant development project on behalf of the Plaintiff Cooperative (hereinafter “instant project”).

The main contents of the acquisition agreement of this case are as follows.

Section 1. (Purpose of Contract) The purpose of this Agreement is to transfer the rights and obligations relating to the implementation of the Project to the Plaintiff by the Defendant Union and to the Plaintiff and to proceed with the Project as the Plaintiff’s executor.

Article 2 (Duties, Responsibilities, etc. under Contract) The defendant union shall transfer to the plaintiff the rights, obligations, etc. that the plaintiff acquired from the defendant union shall be as follows:

1. The details to be transferred by the Defendant Union to the Plaintiff are the right to acquire the instant land.

Article 3 (Liability for Project Costs) The expenses of the Defendant Union shall be based on the terms and conditions agreed upon after the signing of this Agreement (Provided, That the Plaintiff shall pay the fixed expenses and personnel expenses of the Union). Article 4 (Method of Payment of Price for Supply Land, etc.) The Plaintiff shall pay the price for the site for the supply of the land allocated to the Defendant Union

1. Contract deposit: 10% of the value of supply.